This was my...fourth time eating at Magnolia Bakery? I don't know why I keep going, other than that it is one of the few places downtown I know to get a (adorable) cupcake (outside a Starbucks). The cakes are delicious but the frosting doesn't have enough flavor and the options available in Chicago are pretty limited (they have a lot more old-timey American type flavors on their website, but I never seem to see them). In this age of bacon donuts and miso-butterscotch milkshakes, a vanilla cupcake seems deadly dull. Which wouldn't be such a big deal except that you're paying $3.00/3.50 for a freaking cupcake and are simultaneously inundated with Magnolia merchandise (you've got to make me want the thirty dollar apron...)
Final verdict: not worth it, but not sure where else to go in the loop. A Google search reveals plenty of other options--I'll let you know how those pan out.