Jeffery Mundt and Joseph Banis, both 38 and from Louisville, Kentucky, were arrested at the Hyatt Regency on East Wacker.
Investigators found the goods after a sweep of their room, which included $45,000 in counterfeit bills.
It all apparently started when Mundt tried to get change for a phony $100 bill from the hotel's doorman, who then alerted police.
