One of this season's annual Polar Plunge events, where brave swimmers take a dip in the freezing waters of Lake Michigan to benefit needy families, has been canceled due to the extreme cold in the Chicago area.A separate, a much larger Polar Plunge event, which occurs every March and raises money fo r Special Children’s Charities and Special Olympics Illinois, is not affected.This year's plunge, scheduled for Saturday, was canceled due to "extreme weather and beach conditions," according to a statement from the Chicago Polar Bear Club, a local nonprofit that holds the event each January to raise money to support families who need help with, among other things, covering medical expenses, finding safe homes and caring for extended family.Saturday's forecast calls for temperatures to reach a high of about 12 degrees, with a low of about 9 degrees, according to the National Weather Service. It will be cloudy, with wind gusts of up to 10 mph and a 50% chance of snow, the NWS said.It's not the first time the club has had to cancel. "In our 25 years, we have had to cancel a few times in the past, sometimes due to cold, sometimes due to the lake being frozen, sometimes due to a large ice shelf on the shore that would make it unsafe to enter and exit the water," a club spokesperson said in an email. "Overall, we have been able to plunge the vast majority of the years, with only a few exceptions as described above!"In an earlier statement posted to the club's website, the club said the decision was a "very difficult" one. "This was not a decision we made lightly. We know how much time, energy, and heart you have all put into preparing and fundraising. However, the safety of our Polar Bears has to be our highest priority, and with the conditions expected, it would not be responsible to go ahead," the statement said. "While we are disappointed that we cannot plunge together, our after party at HQ Beercade is still going ahead, and we would love everyone to join us to commiserate, connect, and celebrate everything we have achieved together," the statement said. The "Afterparty Event" is scheduled for 1 to 4 p.m. at HQ Beercade in River North,  213 W. Institute Place. ...read more read less