Lennon's flat is in a great location, very nice...but maybe not the best for young families as it can be noisy at night. If you don't mind this, there are loads of bars, restaurants, boutiques and the metro to the loop within easy walking distance.
I would just suggest a few more kitchen supplies, we were 6 people and it was better equipped for 4.
Overall, a great base to discover the amazing city of Chicago!