I would say Toledo simply because of the cost factor. With Loyola you'll pay private school tuition four years. At Toledo you'll pay out of state (assuming you aren't an Ohio resident) for one year and in-state tuition for three years. Plus the cost of living isn't even in the same ballpark.
I can't speak to the facilities at Loyola as I have never been there, but the facilities at Toledo are generally considered to be near the top. That's in terms of "niceness" and "newness" of the campus and the buildings on the campus. The oldest building here was built in the 70s.
The "Loyola" name isn't going to get you anything that the "Toledo" name won't. Believe it or not, name doesn't matter unless you go to one of the very top schools, and even then the difference is almost meaningless.
Chicago definitely beats out the city of Toledo, but I personally don't think it's worth the many, many thousands of dollars difference over four years.