I went last year with a few lads from Zclub, we stayed at this place which turned out to be superb. I can highly recommend it.
http://hotel-an-der-nordschleife.de/hotel/index.php
Next to the hotel they have a purpose built apartment block with multi bed apartments (if you dont mind sharing) the apartments are modern, spotless clean with a big bathroom, clean towels everyday, TV and tea/coffee facilities. breakfast is served in the main hotel building.
its located right next to the Breidscheid bridge and the half lap entrance, its only a short drive to the full lap entrance. each apartment has patio doors with table and chairs, parking right outside and a view of the track from the patios, get an upstairs apartment and the view is obviously better still. you can sit outside in the early evening boozing and watching the late runners round the track.
there is 2 big supermarkets and about 4 restaurants and a couple of bars right outside the hotel.....