The Public Hotel in Chicago (Old Town area) is offering rooms for only $1 per night. The sale is slated to start soon, although they haven’t announced a start date yet. It appears the hotel was renovated and rebranded by Ian Schrager, a Chicago hotelier who originally gained fame by co-founding the famous Studio 54 in NYC.
According to the sale terms, the booking must be for one night only per person and must be confirmed with a credit card. Reservations cannot be canceled or modified and no-shows will be charged a one-night room rate plus tax. A standard room for one night looks like it costs just $125 so I guess the savings and risk are reasonable.