I've stayed in IQ Callao several times in the last 7 years but it's time to say goodbye.
The property is run down and poorly run. Upon arrival at 7pm we were showed to our room (8B) which hadn't been cleaned since the previous guest left. So we found an unmade bed, dirty dishes in kitchenette sink, and a VERY dirty bathroom (including excrement in the bidet). Just horrendous.
Since there is no staff available in the evening, we asked the building guard for help. He unsuccessfully tried to contact hotel staff. He was able to give us the "emergency" apartment, which was clean but very rundown.
Other hassles: the property offers no cleaning services, skimpy towels, literally only one roll of toilet paper (which may explain the dirty bidet), so you might as well be renting any old space in the city and given current rundown conditions this should compare to a 1 star hostel not to other properties in the Recoleta area.
All in all, we had a terrible stay. So we suggest you look at the many other properties available in Buenos Aires.