where should I go, U Chicago or U Virginia?

I would say go to U Virginia....Its under-rated but really great faculty ...I have read their publications...

In fact, law and econ. movement tht is generally associated wuith the U Chicago, has almost equal claimant in UVA..

Gordon Tullock, the only lawyer to be nominated to the Nobel emorial Prize in Econ, is associated with the UV school Of L& E... Ditto Buchanan... who won the Nobel memorial...in Eco...

Go to UVA... without a doubt... It is has a better reputation both in US and rest of the world....

I am not sure it has a better reputation in Europe (at least not in continental Europe).

The HR people at the law firm I work are of the opinion that for a career in corporate law Chicago is one of the best programs you can have (next to Columbia and Harvard)...

UVA is not that known over here (only by some professors, but not by the law firms itself). Although I do think it is a great program and a great place to study...

Difficult choice

and what about UVA vs UPenn for corporate?

I'm studying at UVA at the moment and I can wholly recommend it. The whole experience is fabulous. The Law & Business program is very good.
In the end you can base your decision on other factors. Do you want to live in a great city? Go to Chicago. Do you want a quiet town with great living quality and excellent weather? Go to Charlottesville.