Another great option to consider if you're thinking of attending Loyola is to live in its neighboring suburbs - especially Oak Park, IL. I grew up in Oak Park, and can tell you it's a pretty desireable place to live. It's only a 5-7 minute commute once you get on I-290 West if there is no traffic (can get up to 15-20 minutes with traffic in the morning). It's pretty safe, and you have a significant number of young professionals that live there and commute to downtown using the green and blue train lines. Lots of great restaurants, and cultural events to choose from. Finch is WAY too far up north from Chicago.
In terms of schools, I would go to Loyola in a heartbeat. Finch is a decent school, but with rumors accreditation in danger, I wouldn't risk it. Loyola has a solid rep in Chicagoloand area. Good luck with your decision!