This is the forested gorge of the Río Lerma-Santiago, accessible via buses #62A and #62D which run along Calzada Independencia. There are two locations with fine views of the gorge.
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Zoológico Guadalajara
The modern Guadalajara Zoo is next to the Barranca de Huentitán-Oblatos. It's worth visiting for its view of the canyon, and for its collection of animals, its safari ride, aerial cable cars, and its panoramic train. Other highlights include a reptile house, an arctic habitat, a nocturnal environment exhibit and a tropical forest simulated environment. Special packages available for different combinations of access to panoramic train, safari, aerial cable cars, and/or aquarium
Plaza de Toros Nuevo Progreso
It's right across the road from the Estadio Jalisco, just off Calzada Independencia. Bullfights take place at the Plaza Nuevo Progreso during the season on Sundays at 16:30. Those arriving by bus might not be able to see the bullring from the street, as it's hidden behind some trees, so get off when you see the Estadio Jalisco and go in the opposite direction. Be aware that Bullfighting is controversial and local courts blocked bullfights. Higher appellate courts may or may not have reversed the decision, but if you really want to see bullfights in Guadalajara, you may need to go to one of the suburbs that have their own bullrings (such as Tlaqapaque).
Jalisco Stadium
It's in Colonia Independencia, and can be reached by taking any bus along the Calzada Independencia and asking for the Estadio Jalisco. You will almost definitely see it if you look out, it will be on your left as you come from the center. Here the football team Atlas plays. Chivas used to play on this stadium until 2010, when Estadio Akron was completed. During the season there are league games every other Saturday. If Atlas is playing as a visitor, then you can look for a Chivas game at Estadio Akron. A big game to watch out for is Atlas vs. Chivas, which has an incredible atmosphere, though most games are worth experiencing. If you are of a nervous disposition, perhaps avoid the upper stands when there is a large crowd as it's known to shake when the crowds begin to jump.
Parque Mirador Independencia
This lovely park is at the northern terminus of Calzada Independencia adjacent to the Barranca de Huentitán-Oblatos, with beautiful views of the canyon. Pretty gardens and benches are peppered around the park, allowing visitors to sit and enjoy the different views the park has to offer. This is also the starting point for many of the hiking trails that traverse the canyon.
Museum of the Army and Air Force
Originally a barracks and military academy, the facility was renovated in the late 1990s and opened in 1999 as a museum documenting Mexico's military from its evolution from a colonial Spanish army to its complex and evolving role in providing for the national defense. 15 galleries highlight historic conflicts while providing displays of flags, uniforms, tanks, jeeps, artillery and other military equipment.
Instituto Cultural Cabañas
This UNESCO World Heritage Site east of Plaza de la Liberación is a cultural and art center where the fresco paintings of Jose Clemente Orozco are exhibited.