I can't speculate why your memory is failing you, but only one building stands between International House and the 59th street Metra station: http://maps.google.com/maps?near=141...,0.020235&z=16. As for the commuting time, I take this train regularly and while the time is rounded, it is in the ballpark.

There is a tendency among some people to regard Hyde Park as unsafe, but while this is no Singapore it is as safe as Downtown Chicago. Plenty to do: Chicago's most popular museum (and most other museums of any consequence are along the Metra route!), best bookstores, campus environment, Frank Lloyd Wright's Robie House, and now the president's home. However, for a 2 day visit by a person I don't know, I'd also recommend the Magnificent Mile area.

The location is OK, but for the same price "Red Roof Inn Downtown Magnificent Mile" (162 East Ontario Street) may be better. If you can spend a little more ($130 or so), I'd suggest "Inn Of Chicago" (162 East Ohio Street). These results are from Hotelscombined.com. However, after shortlisting your hotels, call them directly as well. Sometimes that has gotten me great deals that were not showing up on mega-portals.

For only two days in Chicago, you should stay close to the Magnificent Mile. (When visiting a big city for a long period, let us say 5+ days, I like to experience staying 1-2 nights each in different neighborhoods, instead of trying to cover the whole area from one location.)