This morning, a professional acquaintance and I followed JeffB's recent recommendation and went to Harry's Hot Dogs for grits (in the Showmen's League building at Franklin and Randolph). And the grits were top-notch. Salty, just a bit chewy, and with enough lumps to establish them as the "genuine article." It might be worth noting we were there at 7:00; I couldn'g vouch for the grits they serve at 10:00 or 10:30 (when they stop serving breakfast).
The other items we had were fair, nothing extraordinary. The ham & cheese omelette used thinly-sliced and very ordinary "lunchmeat" type ham rather than something with more flavor and bite to it (plus it was cooked in that dry, hockey-puck style rather than folded, but that's a personal preference). My friend's eggs were served "up and runny" as ordered and appeared pretty good, and his side of bacon also looked pretty good, but nothing out of the ordinary there, either. In sum, I'd say go there for the grits, which I'd bet are the best you'll find in the Loop (with the possible exception of those at Everest mentioned by JeffB). Just set your expectations appropriately for the rest of the meal.