Great location, great hotel
I stayed at this hotel this past weekend as part of a group of 9 girls for a bachelorette party. We booked a suite and a regular room w/ 2 double beds. The suite was nice, as it had a bed, a pull out sofa and a murphy bed and tons of room for a bunch of girls to hang out and have fun. The bathroom was TINY. The room w/ the 2 double room had an awesome huge bathroom...I don't know that the suite was worth the extra money we paid for it, but it was nice to have the space and mini (mini mini minI) kitchenette. The two elevators are small and slow, so account for that during busy check in and check out times -- you can't fit many people, especially when luggage is involved.
The location was really great. It's literally behind the Hancock Building. It took us about 4 minutes from the front door of the hotel to walk to the Cheesecake Factory and of course you're then right there on Michigan Avenue. 
Parking was $29 per night and was half a block past the hotel in an underground parking garage. I don't think it was technically affiliated w/ the hotel, but I will comment here that the attendants left a little to be desired. One was very nice and one made us feel like we were committing a crime by even being there. Incredibly rude.
Overall, the hotel was a great choice and very nice! Really comfortable beds.