"The Chicago Hotel the World Knows Best." The hip & historic Palmer House Hilton has a history of over 140 years and after a multi-million dollar renovation continues to thrive in the heart of the theatre and financial district, just steps from the Art Institute, Millennium Park and State Street shopping. This Chicago hotel features 130,000 sq. ft. of function space with over 77 meeting rooms, seven ballrooms and two exhibition halls. Lockwood Restaurant and Bar, located just off the lobby and Potter's Lounge, perfect for cocktails will enhance your experience.