Officials say the fire started a few minutes after midnight on the second floor of the Lake Street building.
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Heavy smoke rushed through the seven stories as flames traveled upward.
Officials say most residents were able to evacuate when they heard smoke alarms, but several residents jumped from their second-story windows to safety.
"The smoke alarms and people screaming in the hallways so I went out to look and I went down to the first floor and I opened the door. A bunch of black smoke came thru so I just got everyone up," one resident said.
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The five people who were injured were taken to local hospitals to be treated for smoke inhalation, authorities said. They are all expected to fully recover.
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