  We observed the "micro-quasar" GRS 1758-258 four times with Chandra. Two
HRC-I observations were made in 2000 September-October spanning an
intermediate-to-hard spectral transition (identified with RXTE). Another HRC-I
and an ACIS/HETGS observation were made in 2001 March following a hard-to-soft
transition to a very low flux state. The accurate position (J2000) of the X-ray
source is RA= 18 01 12.40, Dec= -25 44 36.0 (90% confidence radius = 0".6),
consistent with the purported variable radio counterpart. All images are
consistent with GRS 1758-258 being a point source, indicating that any bright
jet is less than ~1 light-month in projected length, assuming a distance of 8.5
kpc. The March spectrum is well-fit with a multi-color disk-blackbody with an
inner temperature of 0.50+/-0.01 keV, interstellar absorption of nH = (1.59 +/-
0.05)x10^22 cm^-2, and (un-absorbed) 1-10 keV luminosity of
(4.5x10^36)(D/8.5kpc)^2 ergs/sec. No narrow emission lines are apparent in the
spectrum and upper limits to line equivalent widths are given.
