Positiv: The hostel is pretty much excellent. I'd never stayed in a hostel before, so I didn't know what to expect, outside of there being multiple strangers to a room (unless a group of people booked a room together, obviously), but this was really great.
They have incredibly comfortable chairs in the lobby, and a small reading room off the lobby.
A nice cafeteria/games room with pool and foosball tables.
There's an open kitchen with food storage for guests, several vending machines, continental breakfast, etc.
They've got group activities in the evenings, plus bulletin boards where people can post their own things.
There are bikes for rent, as well as free musical instruments for guests to use (acoustic guitars and a piano).
WiFi is free, and they have computer terminals with free printing in the lobby.
There's an open patio with seating on a couple levels.
There's also a conference/TV room with a couch, a couple conference tables, and a DVR.
The staff are friendly (at least the ones I met were), and you can buy supplies and discount passes to attractions (as well as full-price CTA passes) at the front desk, and there's an interactive screen in the lobby where you can check on what's going on around town.
It's also about a mile walk from a CTA station for both buses and the L, so getting all over the city is pretty convenient from there. The station is for blue line trains, so if you come into the city by O'Hare or the train station (which is where interstate bus lines also drop you off), it's very convenient to get to.
My biggest worry going in was security, but the lobby is locked from 9 PM until sometime in the morning, with only your key card getting you in. Also the rooms have key card-only access, and there are storage lockers for your stuff (locks are available for purchase if you forget to bring your own), so your stuff is safe. It's also in a nice neighborhood, close to DePaul University, so you can feel safe walking around the neighborhood.
As far as a full-on Hotel would go, I'd rate it about 3.5 stars, but for a hostel, it blew me away. Definite 5 stars.
If you're looking for a cheap place to stay (like $35 a night), and can handle being in a room with up to 10 strangers, this is a great choice.
Negativ: The dormitory-style accommodations in the room itself definitely aren't for everyone. They didn't work for me, personally, but that's my own deal.
