When we do weekends downtown, the SwissHotel works well for us. Along the river, great views of the river and lake (until they replace the golf-course with more buildings anyway
). At the south end of Michigan Avenue, so easy walk up Michigan Avenue, walking distance to the new Millenium Park. Don't really know what you consider walking distance though. Most blues clubs and such are better gotten to by cab, there AND back. No shortage of bars or places to eat. The concierge can direct you better once you get in town.
Have fun.