a chiller doesn't cool water, it just takes heat out of the water and into the refrigerant. From there it is transferred to the air around the chiller. for the sake of your equipment you should have it somewhere the heat won't get trapped around the unit. if you put it under your cabinet it has to work extra hard and you still manage to put some of the heat right back into the tank because it heats up the inside of the cabinet.
also, it should go downstream of your filtration for the sake of efficiency. I would place it downstream of my return and have it pump into the tank with a clear one-way PVC valve to prevent backflow.
If you want to hide it the best way is to plumb it through an exterior wall (if you are lucky enough to have placed your tank on one) and place it outside just like your central A/C unit. Otherwise, try to make sure there is plenty of ventilation in whatever enclosure you place it in (i.e. vent fans on your cabinet).