The Michael Reese Medical Center on Chicago’s South Side could close its doors later this year.

Owners of the Michael Reese Hospital have told the Illinois Health Facilities Planning Board that they intend to shut down due to financial problems. Michael Reese Hospital filed a letter with the state board in May.

One of the hospital’s lawyer’s Edward Green says the owners have been looking at other options like a merger or a sale, but…

GREEN: I think the odds of that are highly unlikely from happening. I think we’ve explored all of the likely merger and sale candidates and those did not materialize.

Green says the 127-year-old facility is expensive to maintain. And he says for years the hospital hasn’t been able to increase revenue to offset its growing expenses. It’ll take at least four months before the planning board puts the request to a vote.