Top rated for a reason...
There are many reasons why this hotel is one of the best in Chicago...
I traveled there for a work function and meeting that was going to be held at The Drake. While I very much enjoyed my stay there, I was looking for a new place to stay. I came across The Talbott Hotel and was happy I did.
First of all, it's a smaller property. But the size makes it feel more cozy and personal. The lobby is perfect. Sitting by the fire one evening reading a book was a treat.
Second, check-in was a wonderful experience. I arrived my first day around 11am thinking I wasn't going to be able to check-in until the stated time of 3pm. The lovely lady at the front desk thought otherwise and immediately checked me into my room. 
The rooms were wonderful. The Talbott calls itself a boutique hotel. I like boutique hotels. I like small rooms. This room was anything but small. It was a nice balance of space and comfort. A previous review said that the decorating was like being in grandma's attic (or something like that). That couldn't be further from the truth. The decorating of the rooms and the lobby reminded me of an elegant lounge from the 1950's...rich colors and wood throughout.
The bed was extremely comfortable and I had no problem whatsoever sleeping at night...no noise from the outside. They also offer turn down service which is a nice touch. 
Service was ever present throughout the entire place...from the doorman to the front desk to those that cleaned the rooms. 
If I had to choose one area that needed improvement, it would be the menu and food of the restaurant off the lobby. It's very limited in selection. For example, as a vegan, there was only one thing I could eat for lunch/dinner and that was a salad. Breakfast was only a simple fruit plate. Skip the coffee there...it's not very good. Walk across the street to Starbucks and get your morning joe there. For dinner, walk to Karyn's Cooked...it's worth it. 
Bottom line...there's a reason why The Talbott Hotel is one of the top rated in Chicago. It's now on my list of go-to places.