[IndianaSigKap]

Many nice restaurants have a private room that can be reserved for a small fee or the guarantee of a certain food and drink total. You can usually decorate the room and even have a DJ or have someone make a good iTunes playlist to play. You could pull this off pretty reasonably.

Also, if there is a rental hall in the area, ask if certain days of the week are cheaper. You might be able to get a good deal on Thursday or Sunday nights which are not traditionally busy. A local high school in my area has a big dance in a very nice reception venue on a Sunday night because they are able to really stretch their budget.