Update: Weiss Memorial Hospital has closed its emergency department. See our latest coverage here. 

Weiss Memorial Hospital in Chicago's Uptown neighborhood will be kicked off Medicare and Medicaid programs, and a report suggests it could face closure when it is.

The Department of Health and Human Services is removing Weiss from the federal health care programs, saying the hospital failed to meet its standards of care.

There have been many reports of mistreatment and unclean facilities at Weiss Memorial Hospital. The Illinois Department of Public Health has been there to investigate those claims seven times.

But the community finds the hospital's removal from Medicaid and Medicare, and its potential closure, terrifying, saying it would be a catastrophe.

Marc Kapan, an organizer with Northside Action for Justice, said the hospital is an anchor of the community.

"Very much a hospital for seniors and elders in our community," he said. "Low-income elders that really don't have any other options."

One man, who is originally from Vietnam, spoke to CBS News Chicago through an interpreter, saying, "My health fluctuates through time, but every single time that I've needed a hospital, it's always been there for me."

He added Weiss helped him overcome colon cancer; he's now in remission.

"This hospital right now serves over 50% Medicare and 30% Medicaid, and that's 80% of the revenue is from Medicare and Medicaid, and if they lose their funding from the federal CMS, they won't be able to be sustainable long-term," said Illinois state Rep. Hoan Huynh (D-Chicago).

Huynh said he's been in touch with hospital owner Manoj Prasad, who had promised to fix the issues after buying the hospital in 2022. That hasn't happened.

"When leadership took over, we were working with them to make sure these changes happen, right, there's infrastructure changes, there's operational changes," Huynh said. "Obviously, they have not happened yet."

A nurse in the hospital's Emergency Department told the Chicago Sun-Times they expect to shut down Friday morning at 7 a.m. They said they were informed of that decision by their supervisor, and also noted no staff schedule has been set beyond Saturday.

CBS News Chicago has learned more about the exact reasons the hospital was deemed noncompliant with federal rules.

Notably, a July 12 report by the Centers for Medicare and Medicaid Services did not cite the hospital's broken air conditioning as a reason. Rather, the report detailed multiple failures related to nursing care, along with a failure related to pharmaceutical record-keeping.

Will the entire hospital close Friday? Some sources said it will only be the emergency department that shuts down ahead of federal funding being pulled Saturday.

CBS News Chicago has tried multiple times to get in touch with the majority owner of the hospital, and called who we believe is his attorney, and tried calling the hospital. We have not received an answer from any of them.