We chose The Comedy Bar because of the price, to be honest. Other more notable comedy houses in Chicago (Second City, Laugh Factory, etc.) cost 2-3x more than here, but they also provide a higher level of talent and value.
Located directly next to Gino's East pizzeria, the door is easy to miss. Go upstairs where the entire spread opens up. The staff were friendly enough and very helpful, seating is where they place you. If you choose to order food, much of it comes from Gino's next door, which is probably marked up. you would be better off just eating before you go to the show. Mixed drinks were okay, not top tier, but they didn't suck either.
The comedians were fine. Some have experience on late night cable or variety shows, others seemed more local. For example, the headliner was "as seen 3X on Conan!". He was good, but getting to him was a mixed bag.
With all of this said - if you're looking to spend your weekend wad on one comedy show, go to Second City. But if you're looking for a fun time at a reasonable price, which leaves extra to go somewhere else afterwards, then The Comedy Bar is a great choice!