<p>There are many reasons why Chicago isn't as well known as many schools it's ranked above.</p>
<p>The high admission rate is probably a combination of lack of fame, a rather unique application, and a reputation for being difficult. Basically, since the name isn't recognized as much outside of academia and others familiar with higher education, why put yourself through four years hear, if people are still going to ask "Is that a community college?" (Yes, it has happened to me).</p>
<p>So why is it not as well known as other schools of similar ranking?</p>
<ol>
<li>Its called the "University of Chicago." It seems simple, but most people assume that "University of ______" isn't all that special. </li>
<li>Lots of graduates stay in academia -- which limits the spread of its reputation outside.</li>
<li>It's not in the Ivy League. Some schools definitely get some of their fame riding on the reputation of that association.</li>
<li>It does not have Division I athletics.</li>
<li>It's in the Midwest. </li>
<li>"Chicago" is associated with so many other things. "Harvard, Yale, Princeton, Stanford, etc." all refer to the school, and the school only. This may seem like a little thing, but it is another factor that makes it more difficult for the school to gain a repuation outside of academia.</li>
</ol>
<p>None of those things in itself is the sole reason Chicago is less famous than some places, but they all contribute to its relative lack of reputation among the general public.</p>