(MONEY Magazine) – Theater fans may talk about the lullaby of Broadway, but there's nothing soothing about paying as much as $100 for an orchestra seat on the Great White Way, $199 a night for a hotel room in Times Square and more than $20 for a sandwich and a Coke at the Stage Deli. Fortunately, you can enjoy "dinner and a show" without paying New York City prices--at one of the nation's leading regional theaters.

We know what you're thinking: Isn't regional theater just a step up from seeing a bunch of high school students doing a punk version of a Shakespeare tragedy? Actually, no. Nearly all the Pulitzer prizewinning plays of the past two decades--including the 1998 winner, How I Learned to Drive--were developed in small theaters far from New York City's footlights. "These days, it's regional theaters--not Broadway producers--who are the industry's creative force," says Roy A. Somlyo, president of the American Theatre Wing, which hands out the Tony Awards.

Of course, quality differs: Romeo and Juliet can play like Gilligan's Island in the hands of a less skillful ensemble. That's why we canvassed theater-industry professionals for their thoughts on America's best theater scenes outside New York. That led us to the five cities below, where you can often catch a production destined for Broadway--but where ticket prices top out at around $40.

We also asked insiders at each theater to raise the curtain on popular pre-theater eateries and nearby places to stay. For the hotel selections, we chose one expensive and one moderately priced option per city. None of our restaurant or hotel picks will cost as much as a comparable place in Manhattan.

--Chicago. The Windy City is home to more than three dozen theater companies, but the two most famous ones amply reflect the city's dramatic diversity. The Goodman Theatre (312-443-3800), located inside the Art Institute of Chicago, is the city's oldest and largest nonprofit theater. It's perhaps best known for fresh interpretations of classic plays; The Goodman's acclaimed production of Death of a Salesman, for example, just moved to Broadway. But the company also premieres new works: The upcoming Oo-Bla-Dee (March 5 to April 17) about an all-black, all-female bebop band, is by Regina Taylor, who is best known for her acting role on television's I'll Fly Away. From June 18 through Aug. 2, you can catch Jitney, a play by Pulitzer prize-winner August Wilson about a man dealing with his son's release from prison.

The Goodman's prime downtown location makes pre-theater dining effortless; two places that come highly recommended are Italian Village (312-332-7005), where entree prices top out at $24, and Rhapsody (312-786-9911), where the American cuisine runs $18 to $29 a plate. Of the many nearby hotels, the Palmer House Hilton (312-726-7500) is a posh Chicago landmark, while no-frills travelers will enjoy the Chicago Travelodge-Downtown (312-427-8000).

If The Goodman represents the establishment, the Steppenwolf Theatre Company (312-335-1650), which is located in the city's trendy Lincoln Park area, is the aging rebel. The group earned its reputation in the '80s as the theater world's enfant terrible thanks to high-energy, physical productions of plays like Sam Shepard's True West and an adaptation of John Steinbeck's The Grapes of Wrath. Since then, high-profile members like Joan Allen and Gary Sinise have pursued mainstream movie stardom, and in 1998 the company received a hallmark of respectability, the National Medal of Arts.

Through Feb. 28, Steppenwolf is presenting the American premiere of Disappeared, by Phyllis Nagy. The play, about a young woman who mysteriously vanishes from a Manhattan bar, was a hit in London. From Feb. 11 to April 4, the company stages Three Days of Rain, an intergenerational drama by Richard Greenberg that was nominated for a 1998 Drama Desk award for Best Play.

Before or after the show, check out the Lincoln Park dining scene at Cafe Ba-Ba-Reeba! (773-935-5000), Chicago's first tapas bar. Hotels are scarce in this mostly residential area, so head back downtown when the evening's over.

--Denver. You probably don't associate the Rockies with theater, but the locals are trying to change that. In fact, the mix of classic and contemporary plays, popular favorites and experimental works at the Denver Center Theatre Company (800-641-1222) won it the 1998 Tony Award for Outstanding Regional Theatre. In upcoming months, the city's theatergoers will see productions of Shakespeare's The Tempest (March 11 to April 17) and the 1996 Tony award winner for Best Play, Master Class (March 18 to April 17). They will also be treated to the world premiere of The Elevation of Thieves (May 6 to June 5), a play about a quiet European town thrown into turmoil when its centuries-old religious pageant is to appear on television.

For pre-theater eats, our sources suggest the casual Rialto Cafe (303-893-2233), where entrees are $11 to $24; or the Palomino Euro Bistro (303-534-7800; entrees are $8 to $26). The Courtyard by Marriott (800-321-2211) and the upscale Westin Tabor Center (800-937-8461) are both within walking distance of the theater.

--Louisville. To a lot of Americans, this river city may be best known as the home of the Kentucky Derby. But to theater lovers, the only game in town is the Actors Theatre of Louisville, which hosts one of the world's most important showcases for aspiring playwrights, the Humana Festival of New American Plays (Feb. 23 to March 28). Past Humana festivals have premiered eventual Pulitzer prize-winners Crimes of the Heart and The Gin Game, as well as other hits like Agnes of God and Extremities.

Package deals are available for festivalgoers, including one for the weekend of March 26 to 28 that includes tickets to five plays for $112 (call 502-584-1205 for more information). Several local hotels also offer discounts, including the storied Galt House Hotel (502-589-5200), where a $119-a-night room will cost $67 during the festival. Between plays, refuel at the Restaurant at Actors Theatre, where the menu features an eclectic range of dishes that cost up to $17.50.

--Minneapolis. This city's Guthrie Theater (612-377-2224) has made a name for itself presenting a repertory of great works. This season's schedule showcases its range with stagings of Aristophanes' classical Greek comedy Lysistrata (March 12 to April 4) and Tennessee Williams' searing Summer and Smoke (April 23 to May 23). Auriga (612-871-0777) and Rudolph's Bar.B.Que (612-871-8969) are popular pre-theater eateries where entrees won't be more than $20. The sleek Marquette Hotel (612-333-4545) and the more moderate Regency Plaza (800-423-4100) offer comfortable, convenient accommodations.

--Seattle. You might not expect to find world-class theater in the city that popularized grunge music and flannel shirts. But the Seattle Repertory Theatre (206-443-2222) has built a reputation for premiering works that land on Broadway, including the Pulitzer prize-winning The Heidi Chronicles and an adaptation of John Irving's The Cider House Rules that's one of New York's most eagerly anticipated spring productions. It also excels with more lighthearted fare. Over the next few months, audiences will be treated to Radio Mambo (April 14 to May 23), billed as a "politically incorrect" tour of Miami; as well as Oh, Coward! (Feb. 22 to April 4), a musical honoring the 100th anniversary of playwright Noel Coward's birth.

For dinner, try the Pacific Northwest cuisine at Kaspar's (206-298-0123), where, Tuesday to Friday, Seattle Rep patrons get a 20% discount on entrees. Hotels within walking distance of the theater include the moderately priced but charming Inn at Queen Anne (206-282-7357) and the elegant MarQueen Hotel (206-282-7407).