The Acme used to be a Comfort Inn property until it was purchased and renovated a few years back. The location is certainly good in terms of being near River North and Michigan Ave, but rooms are a bit on the smaller side.
The view that I have with Chicago is this: location recommendation is more a consideration towards having things to do at night nearby and to be at least moderately convenient to the city as a whole. At night there are parts of Chicago that are surprisingly quiet even for someone familiar with the city. On weekends, there are parts of the Loop where you may see common things like Starbucks and McDonald's closed. These are perfectly fine areas, but they are office-heavy and as a result, when people aren't in offices, these areas can get remarkably (for a large city) quiet. I often recommend staying near the river or North of the river to people visiting the city from the standpoint of it's nice to have activity around the hotel at night and have the hotel be moderately convenient to the city as a whole. That said, the downtown area is really, really not that big. If I walked from what I consider to be the top of the downtown area in Chicago to the bottom, it would be significantly easier than (to use NYC as a comparison) walking from Times Square to Battery Park.
So, the recommendation of being near the river or North of it is really to have an experience where there's activity at night/restaurants open and to be convenient to things like Michigan Ave. However, if you stayed in other parts of the city, it's still very easy to get around (and the Loop is closer to museums), it's just a matter of potentially not having much going on at night if you are in some parts of the city South of the river.
On HOTWIRE, I'm seeing what appears to be the Indigo for around what you have paid for the Acme (and a listing that has not yet been ID"d/reported that *may* be the Indigo is less on PRICELINE EXPRESS). I like the Indigo quite a bit - that area is a different experience. The Gold Coast is a very nice area but it is at the very top of the zone. So you are not centrally located, but the area has a more neighborhood feel. The top of the Michigan Ave shopping area is maybe a few minutes walk, but you feel a little bit removed from the action, which I think is nice. To the North of the Indigo are a lot of very beautiful houses/apartments (including a few historic buildings) and then after you go through the residential patch you pop out at Lincoln Park (and then Old Town is nearby, the Zoo is a short walk further, etc.) There is a very, very nice farmer's market that closes the street just to the South of the Indigo on Saturday morning.
There is a subway station essentially around the corner (so you can be to the Loop within minutes, really, just a few stops South) restaurants nearby and a couple of grocery stores. So, this area is extremely close to the top of Michigan Ave (Water Tower, Hancock, etc) but feels neighborhood-ish as it's shops, restaurants and apartments in this area. The Indigo is about half a block North of the main area and given that you start to get into more apartments and houses, it (and the Public a block or so away) are probably two of the quietest hotels you will find North of the river. I've stayed in both hotels and lived nearby for a few years. Had absolutely zero issues with street noise at both hotels. Lived above the core of the area right nearby for a few years and after hearing many (many) weekend karaoke jams at the nearby bar until past midnight clear enough to feel like I was in the crowd, I realized perhaps I'm not a city person and moved away to find peace and quiet. Definitely an area where there will be people around/activity and restaurant options until late into the night if you are out, which I think is a plus. Some very nice restaurants, including Gibson's (if you've seen the FX show "The League", Gibson's is the hangout for the main characters, although interiors weren't filmed there), Carmines and Lou Malnati's, as well as Chicago Q and others.
I'm also seeing what appears to be the Allerton for a total that will be about $70 or so less than your stay at the Acme. This is an older property, but literally is in the center of the Michigan Ave area. So, fantastic location but small rooms. Reviews have improved since it became a Warwick property - it has been a few different things over the years, including a Crowne Plaza. So, smaller room, not tons of amenities, BUT cheaper and a "place to sleep" in a terrific location.
Again, the suburbs are really nice, but unfortunately really not doable unless you have a car.
Would the Indigo or Allerton be of interest? Let me know and I'd be happy to point out which listing is which.
If you split this stay into two parts, moving isn't optimal and the prices don't improve but there are some different options that may appeal that do not show when you look up all three nights together (what appears to be the W Lakeshore is showing for the last two nights only.)
If the LQ was, say, $100 and everything North of the river was around $150 or higher and you could use the $50 savings towards cab fare and probably have a bit of savings left to spare, that would be okay. Given that the LQ is more expensive for a lesser location than the options you are looking at, not something I'd recommend. That is an example of an area that will be very quiet at night. In terms of breakfast, there are tons of local breakfast options to consider.
Please remember to return to BetterBidding and use the PRICELINE and HOTWIRE links on the board to begin your travel purchases... or thru our sister site MAPSandHOTELS.com for your regular rate purchases.