Illinois is a top 10 maybe 5 in the nation for engineering, their business school is 9th! About the same as Columbia and better than Cornell, Brown and maybe some others. So yes I also would call it elite. He's from Illinois but I'm don't know how close it would be for his parents to be involved.
Stanford is no longer in the running. Choices now are:
He is also not competing in track at the state level: