I stayed in the single room on the top floor and it was great value for money compared to any other room in Chicago. Basically, I got the privacy and comfort I wanted for a fraction of the price being offered anywhere else. I could get to downtown Chicago within 30 minutes by walking to the station and then taking the train, and the neighborhood is also relatively close to Oak Park (Frank Lloyd Wright's neighborhood) which is worth a visit if you're into architecture. The house itself is pretty amazing and very atmospheric. You definitely feel like you're staying in a home and not a hotel.
I found some of the discussion about the neighborhood, both on other reviews and with other guests during my stay, interesting, and think some of it may be due to racial prejudice. It's true that (1) there's a lot of broken glass around, especially near the train station and (2) the neighborhood is predominantly African-American. However, I walked around by myself (during the day), ran around Garfield park a bit, and actually found all the locals to be very respectful and polite which, I will admit, surprised me. A few people said hello to me as I passed them on the street or chatted to me whilst I was waiting for a train and no one was remotely hostile in any way. So I have no complaints. It's true I would be nervous if I were by myself at night, but as a solo female that's true of many areas of Chicago and of many cities.