The Cat's Cradle
300 East Main St
(http://catscradle.com/). technically in carrboro, just west of chapel hill. well-known national and international acts play here regularly, along with local bands.
He's Not Here
112 W Franklin St
He's Not Here. This is where Michael Jordan comes when he's in town, but you'll keep coming back for the 32 oz Blue Cup.
Tyler's Taproom
(http://www.tylerstaproom.com/) is on west main street in carrboro, and hosts a weekly pub quiz and large beer selection.