Pros: The location is great! Walking distance to Grant Park, and most of the tourist spots in Chicago. There's a nearby Lou Malnati's, and that was the first deep-dish pizza we tried! The hosts were very responsive.
Cons: If you're not used to loud noises at night (car tires screeching, ambulance sirens, loud music from passing cars), you may have some challenges sleeping. Other than that, a good earplugs will help! :)