We absolutely loved the Knickerbocker. Now, if you expect your hotels to be cookie cutter comfortable, forget this place. If Holiday Inns are like the rows of housing developments in the suburbs, the Knickerbocker is like those beautiful old houses in the center of the city. The location is great, the hotel bar is cozy and classy, and the rooms feel like guest bedrooms in Victorian mansions. For the price, you simply can't do any better than this in downtown Chicago. 
