Just had a stay here last week as a Conrad. It's a good hotel with a very good location. You're three blocks from the CTA Red Line, close to the Magnificent Mile and an easy walk to the Loop. Plus, the rooms are pretty large, the bathrooms are nice and the terrace are is nice too.
Here's a link to my stay report which has pictures:
http://www.flyertalk.com/forum/24821873-post223.html