Andy,
Even a hybrid air-glycol cooler cannot cool enough glycol to chill water to 50F in summer, and I have used them in Duluth, MN. A closed loop from a cooling tower means adding a water to water exchanger, indoor sump, pump, water makeup treatment and filtration. First cost seems smaller, but by the time you run this system for a few years, you see water makeup and treatments costs add up and wonder why the additional water and sewer costs are so high.
Diverting warm water must done with non-Ferrous piping, pumps, evaporator from the chiller, so for every concept, there is additional equipment added, or modifications to equipment that result in a higher cost.
Each capacity of each piece of equipment has to match up, capacity wise, which is why shell/tube mash coolers are used for large mash tuns- to account for small amount heat transfer relative to the chiller+reservoir concept. For given temperatures, the smallest capacity equipment will dictate time for cooling mash.
If the given equipment can't offer you enough assurance though experienced suppliers, then ask for references from satisfied customers.
I can offer hot water from a heat recovery chiller to neat 170F, but in order to make the hot water, you need twice (roughly) the chiller HP to do that plus reim cooler to take out hot refrigerant when your hot water storage is maxed out.
It all depends on what is more important, water heating, quick turnaround on cooling or smallest first cost.