I spent a free night cert at the Hotel Indigo Los Angeles Downtown a couple of year ago and felt it was a good use. I see they have points availability starting at 26k points/night for a standard room - which definitely isn't a bad deal. Frankly, hard to think of a better IHG value at/below 40k points/night in Los Angles. Really enjoyed the Indigo's style and rooftop pool - definitely one of the nicer Indigo properties that I've visited. A worthwhile consideration if you cannot find a Kimpton available within the points range you're looking for.

-FlyerBeek