Space 55 is great due to the improv shows that Torch Theater holds there almost daily. It's also not bad due to the lovely random eclectic decor and art you can see throughout the space. I swear one day I am stealing the ratty old Victorian era couch in the side room.
However, where Space 55 lacks is in parking, a good place to park your bike, and the coffee shop that closed inside. I'll still go. I love improv, but it could be improved.