I have put friends/relatives up at the Swissotel, usually through Priceline.
I think it is an excellent hotel. The location is probably a 4+ (out of 5), only because it is a little walk to Michigan Avenue and nothing but some other hotels in a few block radius.
The rooms are great. It is a newer hotel compared to some 4-stars ones on PL and the staff/service is great. The standard rooms are your typically-sized one that you would get whether you were at the Ritz. Westin or Hiltons. Whether you get it via a discounter or have to pay, you will not be disappointed. I am thrilled to "win" this hotel when doing Priceline.
If you like steak and seafood, the Palm Restaurant is off the lobby. Very good place to eat and drink.