As part of the downtown revitalization renaissance, one of the new, interesting places to open in the area has been Commonwealth, a stylish Prohibition-era cocktail bar complete with its own speakeasy.
The cocktail menu consists of two types of beverages--those that speak to the higher-end crowd and those that are a bit grittier--but all of them are interesting and worth ordering. Commonwealth's interior design is a bit dark but echoes the time period it is modeled after, and the attached, secret speakeasy has its own menu (ask a bartender for tips on how to enter and they might be able to help hook you up).
One of the best highlights of this bar, however, is the fact that it's a locals' favorite, and there is an upstairs balcony where people hang out late into the night. The people watching from this open-air balcony is fabulous as people come and go from the Fremont Street Experience, though it can get a bit crowded at times.