Elasticity Grand Challenge Workshop
Food
Walking from Chancellor hotel
There are quite a few restaurants within walking from Chancellor Hotel along Neil street.
The chain fast-food places (McDonalds, Subway, Hardees, Tacobell, Steak & Shake, Wendys) are quite well represented in this area and almost all of them are within a few minutes walk from the hotel.
There are a few American restaurants right next door (Merry Anns Diner, TGI Fridays, and Ribeye)
Hooters is also considered to be an American Family Diner, but their waitresses have quite specific dress code.
Rainbow Garden (7-10 minutes walk) is quite decent Chinese restaurant.
El Toro (Mexican) has good margaritas and decent food.
Aunt Sonya's (which is affiliated with Chancellor hotel) is known as a good pancake place. Nobody knows if they are also good for dinner, even though they are open till 11 PM.
For beer the best place in the vicinity is Jillians Bar (sorry, typo on the map); if you are hungry - they promise you American cuisine.
If you are not in the mood for going out - there is a small grocery story (Jerry's IGA) right behind the hotel - they have some selection of beers, vine, and food.

Champaign Downtown Area
There are quiet a few bars and restaurants in teh downtown Champaign area. A reasonably comprehensive list of businesses can be found here.
There are three popular places in downtown Champaign:
-- Great Impasta -- fine Italian restaurant
-- Radio Maria -- "fine international" restaurant
-- Esquare Lounge -- a bar with free peanuts
All these places can be quite quite busy, especially Friday night. Also be careful driving in downtown - most of the streets are oneways, oriented along the railroad rather than N-S / E-W grid, and a lot of them are under heavy construction now.

If you have more sophisticated taste, have special requirements, or just performing a survey of restaurants across US - below are several links to local restaurant listings. Some of these sites have restaurant reviews and more detailed descriptions.
Visitor's guide to Champaign County - Classified Restaurant List
The News-Gazette - List and reviews
Champaign County - Chamber of Commerce Directory
Enjoy Illinois listing - short restaurant description (Postal code 61820)