CHICAGO (CBS) — On Saturday a Chicago financial advisor takes the gamble of a lifetime.

He’s already hiked several mountains and his next trek could be deadly.

From an island between Norway and the North Pole, he explains his inspiration to CBS 2’s Lauren Victory.

As Chicagoland emerges from the tundra, this Chicagoan is heading into it.

“The ice is constantly moving, breaking, so there’s a real possibility of falling into open arctic water,” said hiker Alex Pancoe.

He’s about to traverse the North Pole.  A 70 mile seven to 10 day expedition.

“We carry all our gear, our tents, our food, our fuel and sleds attached to us,” said Pancoe. “It’s going to be -50 degrees. We’re literally running 10 marathons in about a week.”

It’s part of the Northwestern grad’s attempt to cross both poles and climb the highest mountain on each continent. Only about 60 have done it.

Alex’s adventures come with a cost.

“I’m dedicating this trip to you,” he said to 14-year old Serena Lewis via camera video. They share a special bond. Both survived brain tumors.

Doctors at Lurie Children’s Hospital treated them.

Pancoe hopes his risky polar pilgrimage inspires donations.

“That is incredible of him to do that when it’s not even for him really,” said Lewis.

His ultimate summit? Reaching one million dollars.

Alex calls his mission “Peaks of Mind.”

You can donate on his website by clicking here.

Pancoe is already up to $400,000.