Mercado Central & Mercado Vega
Recently the Travel Channel personality Andrew Zimmern experienced Chile and all its food treasures. You can read about Mr. Zimmern's experience in the Mercado Central here. After reading his accounts you might be a little weary about visiting the Mercado Central, but don't be alarmed if you don't share his food tolerances as the Mercado Central has many options to fit your appetite. Like many other markets, the Mercado Central is housed in old and aging buildings with cuts of meat hanging from everywhere. Upon entering the market the smells, sights and sounds will leave no doubt in your mind that you are in the food heart of Santiago. The real pleasure of the Mercado Central is all of the restaurants lining the outer edges of the market. You will not get a fresher meal in Santiago than a meal in the Mercado Central. So after you are done walking around and absorbing the experience, pick out a restaurant and grab a seat.
However, if you want a truly local experience I would recommend the nearby Mercado Vega. Just across the Rio Mapocho from the Mercado Central is the larger Mercado Vega. While the Mercado Central gets all of the press, the larger Mercado Vega is more authentic and not overrun with tourist. Because the Mercado Vega does not get all of the press it is less of a tourist trap than the Mercado Central and, therefore, you will truly find cheap eats and cheap goods in the Mercado Vega. The Mercado Vega has everything from socks, electronics, meat, fruits and vegetables. Put another way, if you are looking for it, you can find it at Mercado Vega. So grab your walking shoes and appetite and head to either the Mercado Central or Mercado Vega for a great Chilean experience.