I feel like the answer really has more to do with which direction the largest body of water is oriented to my current position. In this case it would have to be sunset because Lake Michigan is to my west. Both are equally as important to witness so that you remain tethered to the real world and get to appreciate some of the inherent beauty in the world that is effortlessly free.
As for where to watch the sunset? I imagine if there was a lakeside gazebo or dining area that would be perfect. Sitting in a comfortable chair, eating delicious food and enjoying a great bottle of wine. Preferably there would be some perfectly placed clouds on the horizon so that the overwhelming brilliance of the sun won’t blind you. Then you can sit back and enjoy looking directly at it as it drops “into the water”.
Then after the sun is down, which is the first real treat, you really have to stay to watch the sky slip into gradual darkness. If you really wanted it utterly perfect there wouldn’t be any light pollution, the sky would be crisp and clear and the perfect capstone would be a meteor storm as well as a nice thick belt of Aurora Borealis. That would be breathtaking. The sunset, the meteors streaking through the sky, and the Aurora playing in the darkness.