For computational bio/CS I think Penn would be better. The CS department at UChicago is still growing, plus as you said it is very heavily weighted towards theory.
However I do want to point out that getting a position in VC right out of college is difficult. Its probably easier from Wharton, but it sounds like you’ve been accepted to Arts & Sciences.
You might want to network with grads of both colleges who are currently in VC and see what they suggest.