So I've been trying to do a little research on this 7th Street Hotel, which is a building located in the South Loop. I am curious as to whether the hotel is still up and running and why it is called 7th Street Hotel, considering it is located at Balbo & State. Well I haven't been able to find much, but apparently the hotel was built during a short time period when Balbo was named 7th Street between 1921 and 1928. The hotel certainly looks abandoned other than the South Loop Club (major dive bar) located in the bottom of the building. It doesn't appear to have landmark status, so I'm surprised they haven't tried to do some major renovations and/or rebuilding.
I was able to find this photo this photo, so apparently it was called the Carter Hotel and some point or another.
The longer I live in Chicago, I find myself getting more interested in the older buildings and what used to occupy them. Many buildings have landmark status which restricts any changes in an effort to preserve the historic value/architecture. This can make things interesting when buildings have an older engraved name of whoever used to occupy it right along side it's more modern sign of the current residents.