DePaul school of acting is FANTASTIC. Had a friend that went there. They do, however, cut a drastic amount after your first year.
Roosevelt has a GREAT location. I've heard both great and awful things about that program, though. Some complain about how little attention each students get. I think it's a great school if a big city life is what you're after. Plus, Chicago itself has a great resource of teachers from voice (Lyric Opera teaches lessons) to dance (Jazz Dance capital of America!)
Yes. It's rumored that about half are cut, but I'd check the facts on that one. It's a conservatory inside DePaul, which is why it has a bit of a brutal cut policy. But, again CHECK THE FACTS. This is just what my friend told me about DePaul's program and what I've more or less heard from others.
I'm applying to both because of their geographical location...However...I have heard from numerous professionals that DePaul's program is seriously lacking. One person actually told me that "DePaul actors never work". I never said this, nor can I really confirm it's truth, but that's just an alternate perspective for you. Also, they do cut around half of their freshman class.