We define a representation framework for extracting spatial information from radiology reports (Rad-SpRL). We annotated a total of 2000 chest X-ray reports with 4 spatial roles corresponding to the common radiology entities. Our focus is on extracting detailed information of a radiologist's interpretation containing a radiographic finding, its anatomical location, corresponding probable diagnoses, as well as associated hedging terms. For this, we propose a deep learning-based natural language processing (NLP) method involving both word and character-level encodings. Specifically, we utilize a bidirectional long short-term memory (Bi-LSTM) conditional random field (CRF) model for extracting the spatial roles. The model achieved average F1 measures of 90.28 and 94.61 for extracting the Trajector and Landmark roles respectively whereas the performance was moderate for Diagnosis and Hedge roles with average F1 of 71.47 and 73.27 respectively. The corpus will soon be made available upon request.