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The man was found unresponsive in the water then taken to University of Chicago Medical Center in critical condition.
The boat, carrying 16 people, capsized about 7:30 p.m. Officials are searching Lake Michigan for one person who was unaccounted for.
A 16-year-old boy and a 40-year-old man died after being shot about 10:40 a.m. Friday in the 2500 block of West 46th Street, police said.
Martez Cristler and Nicholas Virgil were charged with murder and aggravated arson, Chicago police said. Anthony Moore was charged with fraud and forgery in connection with the fatal West Pullman house fire that killed Pelt.