What can I say, this place is absolutely amazing. Five stars all the way.
It's an actual palace converted into apartments but built in 1545 for a senior academic at the University of Bologna. The history of the building alone is just mind-blowing.
The unit itself is quite generous, huge living room, dining room, kitchen, 3 beds, 2 baths. we had 4 adults and one child and we felt right at home.
The location simply cannot be beaten. You are literally in the heart of medieval Bologna but also in the heart of the amazing food scene and nightlife. This area (Emilia-Romagna) is the Italian version of the "American heartland". So expect most places to have fresh meats, cheeses, wines, pastas, etc.
Some suggestions, there is a grocery store on the corner of Via Goito and Via Guglielmo, use this instead of the small shop 2 doors down from the place. Much better selection.
For food you can't go wrong anywhere but we did Franco Rossi on Via Goito the first night but the real food scene is just off the Piazza Maggiore. There is a tiny medieval street behind the Piazza called Via Pescherie, specifically check out Simoni for amazing meat, cheese and wine. If you circle that block you will see the two towers and all the amazing restaurants and night life. Walk back to your place using Via Guglielmo and you will see some more amazing eating and drinking places. A word of caution, Via Pescherie is open all day (except Monday, I think) but for most restaurants the party doesn't start until 7:30-8.
We loved Bologna and loved our stay, thank you Francesco.