<p>Less than 15 years ago, 40% acceptance rates were very common among elite universities like Penn, Cornell, Johns Hopkins, Northwestern etc… Chicago is definitely an elite university. Nobody will debate that point. But Chicago is not very collegiate and as such, will only attract a specific type of student. Columbia is similar to Chicago, but at least Columbia is an Ivy League and is located in NYC, so it receives a higher number of applicants and its yield is significantly higher. But don’t be fooled by Chicago’s admission rate. the students at Chicago are gifted and the university is one of the top 10 in the nation.</p>