I continued to be curious about the hotel, but Sanborn Fire Insurance maps didn't cover the period. When I checked google maps, I was taken to an empty lot. Was this the location?
I visited my Great-Aunt Ree and discovered that she had photos of the hotel. One of the photos showed the business across the street, which is still there. Thanks to this, I was able to accurately pinpoint the location of the hotel (which is the empty lot shown on Google maps).
The other day my sister and I went down to 400 Whitehall with copies of the original photos and did our best to created the "Looking into the Past" effect. It was difficult due to windy conditions and a fence now in place around the bank next door. The photos aren't perfect, but they give you the idea.