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ElephantWalk ("We've got a little over 150, averaging about 45 per pledge class") goes to the University of Arkansas; my campus is Florida State.
Arkansas has twelve IFC fraternities (I'm not counting one small ethnic fraternity), and Florida State has twenty (counting an unrecognized SAE chapter).
The number of fraternities has almost nothing to do with size of the top chapters. Penn State has over 50 fraternity chapters, but the prestige houses have 55-75 thereabouts. The University of Illinois has even more chapters than Penn State, but the top fraternities all have substantially over 100.
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