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Depending on the time of day, taxis from O'Hare to anywhere downtown average $40-$50 including tip (15-20% tip to the driver is expected as long as he isn't outright rude). The ride takes 30-50 minutes depending on traffic. You can share a taxi ride for about half that - just tell the cab starter (he's the guy that works at the airport, not the taxi driver) at O'Hare you want a shared ride and he'll arrange it.
If you want to save a LOT of money, take public transit. From O'Hare to the Clark/Lake stop on the Blue Line subway to downtown takes about 40 minutes and costs $2.25. The Clark/Lake stop is about 3 blocks from the Hotel Sax. Even if you took a taxi from there, it would only be another $4 or so, saving you up to $40 compared to taking a cab the whole way. There are elevators and escalators at both ends, so as long as you're reasonable healthy your luggage shouldn't be a problem.
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