Good value overall. It's less than $100 and in Old Town, which is a good neighborhood for people who want to stay in the less touristic parts of Chicago.
The place itself is extremely small. It's less a studio and more a small bedroom with an attached bathroom. There are no windows, and the ceiling is maybe about 7 feet high. But it's clean, stylish (once you get past the initial shock of entering a basement laundry room through an alleyway) and right around the corner of the center of action in the neighborhood. Good for an overnighter or maybe a short weekender.