After 75 years of educating young people on the North Side of Chicago, St. Gregory the Great High School, 1677 W. Bryn Mawr Ave., will close its doors in May citing financial reasons. The school posted a statement on its website Dec. 6 announcing the closure. “The last few years at St. Gregory the Great High School have been full of transition and at this time we find ourselves embarking on our greatest transition yet,” the statement read. “After months of prayer and thoughtful consideration, in collaboration with the Archdiocese of Chicago, it is with great sadness that we tell you that this year, the 75th of St. Gregory the Great High School’s history, will be its last. “A lack of financial sustainability and a variety of sizeable impending expenses for general maintenance of our building makes it difficult to provide our students with the academic resources and opportunities that they need in order to be best prepared for a life of greatness beyond high school,” the statement said. The high school has worked out an agreement with Holy Trinity High School, 1443 W. Division St., for students to apply there, and if accepted, receive the same tuition rate next year that they would have paid at St. Gregory’s. “Holy Trinity has a mission that is very similar to St. Gregory. As a result, the atmosphere and culture inside the walls of Holy Trinity is much like what we experience at St. Gregory,” the school’s website explains. St. Gregory students will have to go through the application process at Holy Trinity like other new students. The schools are also looking into providing transportation from St. Gregory’s to Holy Trinity, which is about 20 minutes away. For those students who transfer to another Catholic high school, the archdiocese will give $1,000 to their new school toward tuition for the 2013-2014 school year.