Didn't say here by choice, wouldn't stay again
Stayed here for 5 nights recently for a conference; don't usually stay at Holiday Inns, though I'm not opposed to budget chains by any means, usually prefer Hampton Inns, but I digress. 
I had spent a lot of time on the website trying to determine what the hotel itself looked like, having spent a lot of time in Chicago. When I realized the website didn't really show an actual exterior photo of the hotel, I knew something was amiss. The hotel is UGLY--in fact, some friends took a guided Chicago river tour and the guide said that the building was voted the "most depressing" in the city. We pulled up to the front door, and they didn't have a valet; we were directed to the parking lot below and had to park in an open air lot. After hauling our suitcases up a flight of stairs, we entered the "hotel" only to realize the hotel is actually the top few stories of a larger building that contained businesses, a commuter college, etc. This was a painfully annoying part of the hotel--taking multiple elevators every day just to get out of the hotel. 
Check in was painless, the staff was actually very good. They were able to switch my room to a king size and had a river view, which was nice. Every day, the staff members were very friendly when you walked by. 
Rooms: I had a single occupancy with a king sized bed. There was a couch, desk, small LCD tv, and decent sized restroom. The ac/heater was a window unit, and was very loud. I didn't even turn it on at night because it kept me up. Speaking with other people in the hotel, I know this was a common issue. One thing that should definitely be brought up--the towels in the bathroom were AWFUL. Pretty much hand towels 2mm thick and starched to the max. 
Also, we didn't eat any meals in the actual restaurant in the hotel, but we were there for a conference where they served breakfast and lunch daily. The breakfast was decent, and the lunches were pretty gross--good thing there is a Chipotle, mall food court, Steve's Deli, etc nearby. 
Location: There are places closer to Michigan Ave that would be better. This hotel is kind of a hike from the "Mile," though it is walkable. I would only consider this hotel again if I was really looking to save some money.