New Elysian Hotel, Balsan bistro offer luxurious taste of Paris in downtown Chicago

The lobby lounge looks as if it's an expertly furnished flat in some chic Parisian arrondisement rather than merely a place to wait. Visitors are greeted by plush black sofas and glass-topped coffee tables adorned with elegant tomes like Parisiennes: A Celebration of French Women, while black wrought-iron fixtures accent the white Carrara marble fireplace on the room's northern wall. Even the drapes in this parlor are French-inspired, as designers used a photograph of a Coco Chanel dress as inspiration for the gorgeous tuck-pleating and dressmaker-button detail.

A hotel that's 80 percent suite (only 19 regular guest rooms are available out of 188), the Elysian is home to two restaurants that already are generating positive buzz. I recently checked out Balsan, the 70-seat, European-inspired bistro on the third floor. (It's named for Étienne Balsan, the wealthy racehorse owner who was the lover of Coco Chanel and helped finance her early boutique.) Already popular with locals, this casually elegant spot is decked out with custom light fixtures designed to be the "jewelry" of the space. Hand-etched glass panels line the elegant bar, as designers used a old French fleur-de-lis (stylized lily) design for inspiration. But everything here borrows that 1920s Parisian sensibility, from Balsan's gray, black and white palette to the marble bar to its antiqued mirrors. Despite the gorgeous space, the REAL star here is what's served at the table (and eaten with Christofle silverware, no less).

Canadian-born Executive Chef Jason McLeod and team--which includes veterans of top Chicago restaurants such as Charlie Trotter's, NoMI, North Pond, Avec and Blackbird--source ingredients from 65 area farmers. This crew isn't playing around, as they cure their own meats and make everything from gelato and ice cream to preserves and even ketchup in-house. Menus are printed daily, with featured dishes depending on what's seasonal and fresh.

Another star of the kitchen: the wood-fired oven it shares with Ria, the Elysian's seafood-focused upscale restaurant. During a recent lunchtime visit, I sampled an excellent Tarte Flambée ($15) topped with bacon, red onion, and an outstanding Uplands Pleasant Ridge Reserve cheese. Before the tarte, I enjoyed a small plate called brandade ($11), a specialty of the southern French region of Languedoc-Roussillon. This delicious cod-based purée is flavored with olive oil and lemon, and served with croutons. And to complement both dishes, I sipped a glass of a 2007 Tourmaline Muscadet from France's Loire Valley ($14)--a great suggestion from one of Balsan's managers.

The folks at Elysian are trying to create an "independent restaurant experience" with Balsan--and they're doing it with reasonable price points that make you forget you're sitting inside a luxurious European-inspired hotel. Prices rise some for dinner, but with small plates and charcuterie and cheese selections from $5-$16, entrees from $14-$24, and desserts for just $5, Balsan just might be one of the best-priced finds on the Gold Coast.