University Lowbrow Astronomers has a page full of Venus transit information for Ann Arbor area locals, including viewing parties at local observatories and at the Traverwood Library. The Great Lakes Association of Astronomy Clubs has a similar list of Venus transit viewing sites statewide if you want to meet up with others while watching.
Depending on your location, the 2012 transit will take place either June 5 or June 6. If you live in Southeast Michigan, the transit will occur on the evening of June 5 from approximately 6PM until sunset. More information can about the Venus Transit be found at http://www.transitofvenus.org/
The weather does not portend favorable viewing conditions – there's a chance of rain, and forecast for 50-60% cloud cover. See the Weather Underground forecast for Ann Arbor for details.
If you decide to watch the transit of Venus online, there should be a lot of places streaming it. Here's a few to save some time when it comes to hurry indoors.
Slooh Space Camera will run about a dozen feeds from a variety of sources.
Keck Observatory in Hawaii is planning a Venus transit live feed.
NASA's Sun Earth Day has a series of Transit of Venus feeds.
Back in 1882, there was also a transit of Venus; the Public Domain Review has a roundup of images from those viewing expeditions. Science!