This is a tough choice, for a couple of reasons. Wisconsin is a better school than Loyola, and would give you a lot of great opportunities-but they'd all be in Wisconsin and the Midwest. Think a bit about living there. I, as a fellow LA native, know it's tough. But think about the cost of living and how much extra purchasing power you'd probably have there. Madison is a great place, after all. There's State Street and lots of bars and things for young people to do.
That being said, if you're absolutely positive you want to be in LA, the answer is Loyola, no question. It is much better than Southwestern, and most people from Loyola are able to get decent jobs. You may not hit Biglaw, although there are those from Loyola who do, but you can probably find a good firm or public interest job in LA from Loyola.