Is it possible to compare American and Canadian Universities?
I was accepted at University of Chicago and University of Toronto.
I know that Chicago has a very good standing, but is it worth that money? I mean Chicago costs twice as much...

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Depends upon your interests, your career plans and what you could get with your paper. Toronto might be as good as Chicago, but Chicago carries much more weight (at least in Europe where I come from). The exception in Canada might be McGill.

Being Canadian I would go to Chicago. U of T would not rank in the top 10 in the U.S. - they just don't have the funding. Chicago is the better choice in terms of reputation, quality of education and job prospects....even if you wanted a job on Bay Street in T.O.