I was in the same situation last year, but my decision factor was much easier. My home state has contract seats with PCO and nothing With ICO saving me ~ $12,000 per year at PCO. Although I do believe PCO and ICO are both great schools and provide a comparable education. I am very happy with my decision to go to PCO. Chi town is great, but that is about all there is within many miles. Philly has so much more to do and so many different places to visit within a couple of hours. NYC is only 2-2.5 hours bus or train ride for $20-34 max round trip. DC is only about 2.5-3 hours prices similar; Atlantic City is 1.5 hour drive. Trains into Philly are safe and cheap. Boston 4 hours drive. The Poconos are only 1.5 hours drive to ski and snowboard. Lots to do and see with in a days trip of Philly.
At first the area PCO is in takes some getting used to, but it really isnt bad once you know your way around. I personally think ICO would have been worse than PCO considering the two living situations. Although it is cool to be that close to the city, it is nice to be close, but not right in it as we are at PCO. I felt that ICO was very confined to the big city and had more of a difficult access to the comfortable (personal opinion) conveniences of the suburbs. PCOs location is kind of in the middle. ICO people please dont take offence to anything I say about Chi town, I am only speaking from my 3 day experience there. I know it is a great city.
As far as the clinic situations go
.. I think both schools are going to give you great clinical experience due to the location of each. Large city and low income areas, sad to say, but = a lot more disease and interesting conditions that you may never see anywhere else. I do think that the most useful learning experiences occur in the clinic. Everything you learn in school is important at some level or another, but clinic is what you will do the next 30-50 years and there are some things you just cant do justice in the class room. I dont think either is going to have any huge impact on employers unless they are looking for overall clinical experience.
Best of luck and hope this insight has helped some.