Concierge.com's insider take:

The Four Seasons looms above the toniest stretch of N. Michigan Avenue in one of the country's tallest limestone buildings. Though the stature and location are grand, this is the city's most discreet luxury hotel, with its lobby tucked up on the seventh and eighth floors. And the 343 guest rooms are even more removed—they're on floors 30 through 46. They all have sweeping views of the city, but if you're willing to pay a bit extra, you can also look over the lake. More importantly, all the rooms are undergoing a $30-million renovation that will be completed in 2009. Nearly 300 of the guest rooms are already flaunting the new look, which swaps the former English-manor, high-tea decor for a forties, French cocktail party effect. That means Cubist artwork and curving Deco lines all laid out in your choice of two palettes: a cool blend of steel and oceanic blue or a warm scheme of chocolate browns and shimmery silvers. Both schemes feature upgraded bathrooms of hand-cut Chinese marble as well as fully modernized amenities, including LCD flat-screen TVs, Wi-Fi, and iPod docking stations upon request.