Officers from the Hancock Police Department say the third and final suspect was taken into custody without incident around 4:00 p.m. Monday afternoon.
The suspect is charged with breaking and entering with intent and felony larceny of a firearm.
The suspect is being held in the Houghton County Jail awaiting arraignment.
18-year-old Alexander Santiago and 18-year-old Juan Carlos Pereyra were charged with the same crimes at their arraignment on Monday.
The charges stem from a robbery of Northwoods Sporting Goods on Saturday.
Three semiautomatic pistols and two boxes of ammunition were found later that day at a dorm room on Finlandia’s campus.
Hancock Police say they believe the firearms were stolen with the intent to be sold outside of the area.