ThomasCrown
I am only applying to Booth at this point. Do you guys think it is advantageos to mention it in my essay after writing about all the benefits of Booth?
No, I think you should leave this fact out of your application entirely for 2 reasons:
1. The adcom is looking for evidence that you are committed to getting your MBA right now, not next year or the year after that. Admitting that you are only applying to one school, especially in R3, implies that you're "kinda" interested and may not have a clearly defined direction.
2. The adcom is evaluating your application as a strategic initiative; applying to only one school could cause them to call your strategic ability into question, a thought you don't want running through their heads.
I understand that there may be some value in expressing that you feel Booth is such a perfect fit that you're not even applying anywhere else. In my opinion though, the potential costs of making that statement outweigh the benefits.