The restaurant occupying the ground floor of the Alter Schwede — the oldest house on the Marktplatz, built around 1380 — is the most atmospheric place to eat in Wismar, and probably the most visited. The vaulted brick interior is genuinely medieval, and the combination of low ceilings, heavy timber, and candlelight makes it one of those rooms that earns its reputation on ambience alone. The food leans traditional northern German: roasted meats, fish dishes, game in season, and a beer list that keeps the locals happy.
Prices here are somewhat higher than elsewhere in Wismar, which in a city of this size means they are still moderate by German standards. Booking ahead is advisable in summer, particularly for evening meals. If the interior is full, the outdoor tables on the Marktplatz are pleasant in warm weather, though you lose the atmosphere of the vaulted room. It is worth noting that this is a restaurant first, not simply a tourist attraction — the food is solid rather than spectacular, but the setting makes the visit worthwhile regardless.