I am not a fan of that Sheraton (it was the first SPG property I visited after long time loyalty to Marriott) but I am not as unenthusiastic as KENNECTED. It's close to Navy Pier, Michigan Avenue, and much other of the general summery family tourist stuff. Walking in August (is the trip soon?) beats walking around in January.
Rooms at the Tremont can be very small. The run-of-house award room could really be maddening for three, even if you didn't spend much time in the room.