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Yes I know it about it and I know people who studied there. I wouldnt recommend it. Though its the centre of Chinese studies in Beijing its not a good a place to learn Chinese. Thats mainly because there are too many foreigners there and the area is highly saturated with foreigners too. You need to go to a place where there are less foreigners, that way you will make Chinese friends and will have to speak in the surroundings of the university and so learn a lot more quickly.
BCLU is really bad and I know a lot of people who went from my university to there and they didnt like it all. An example is: they even have foreign TV in the halls there!!!! How could that be good for your Chinese. Its more expensive there too I think.
I went to Beijing Normal University, the lessons are good there. There are quite a few foreigners but not as much as BLCU. The surroundings are nice and theyre arent many foreigners. Everyone I know was happy there. I would recommend it. 北京师范大学。