This is what was proposed when the station was designed. The structure atop the existing eight floors of now largely unoccupied office space was to be a hotel.
From first hand knowledge, I learned that cassions sufficient to hold the twenty five story structure were laid. However, within a city where "politics is everything", the owners of The Midland ("W"), LaSalle (razed), Morrison (razed), Palmer House (Hilton), Stevens (Conrad Hilton), Bismarck (Allegro), whoever, were "not happy" over someone having a hotel back then analogous to the one (Hilton, for the moment) within the O'Hare terminals.
And that was that.
But with cassions laid to support a structure much higher than the seven floors proposed, why not go for it? The West Loop is "where it's at" Today.