I have been browsing the Madrid related posts for the last few weeks and think I should take my chances and post. I will be traveling to Madrid w/ two close girlfriends in a few weeks, we are all from Chicago and appreciate good food. We are also not looking to spend a ton of money on most of our meals--one splurge for sure, but the exchange rate is not in our favor.
Any recommendations for great food at reasonable prices in Madrid is appreciated. Particularly places w/ a lively atmosphere!