Can MFA help me out with new years?

Ok MFA, I just moved to Chicago and am going out with some friends here for new years. The place we are going has a live DJ and dance floor and seems to be a bar/club hybrid type of place. I had originally intended to wear this amazing leather jacket with a white shirt underneath and loose tie (just like the dude has in the picture) but was talked out of it by some cute girl while I was christmas shopping and ended up buying this, which after just trying on looks a little too biker/douche for me.

So unless I am told otherwise by the intellect of MFA, I plan on returning my impulse buy and switching things up entirely for new years. Once I return the jacket I'd be willing to spend another hundred or so (I need a new jacket desperately anyways, all I have is a ski jacket) for something to wear that I will look good in and warm in, as well as clothes that are comfortable enough to dance in underneath.

I've never gone to one of these events before so I'm not quite sure what the typical person wears to an open bar new years party. A couple suggestions would really help me out.

Thanks in advance MFA.

Edit: I'm 24, 6'0" and weigh 165lbs.