The Hyatt McCormick is indeed a bit out of the way, but can have some spectatular deals when there isn't a convention in town and is actually a very nice property.

If you're the type who sets out in the morning and then doesn't go back to your hotel room until after dinner that evening I would give it some consideration. There is a Metra Electric line stop at McCormick that takes you right to the loop (I think frequency might be a problem on the weekends/evenings), you can catch a #3 bus right outside and take that to the loop, or in nice weather you can take a nice walk up the lakefront (perfectly safe and in the summer the path will be thronged with people in this area). A cab ride is quick from here and won't cost all that much.

But - if you're the type who pops back to the hotel room several times a day look elsewhere.