CPR LTT OVERSHOT CLIMB TO 3000' ON MDW 3 SID DUE TO CONFUSING CLRNC.

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WHILE ON THE GND AT MDW MY COPLT RECEIVED OUR DEP CLRNC FROM CLRNC DELIVERY WHICH READ; 'CLRED TO VALPARAISO ARPT; MDW #3 DEP; RADAR VECTOR SOUTH BEND DIRECT VALPARAISO...EXPECT 5000; DEP FREQ XXXX; SQUAWK XXXX.' THE SID FOR THE MDW 3 REQUIRED THE ALT OF 3000' BY MAINTAINED. HOWEVER; SINCE WE RECEIVED 5000' AFTER THE SID WE BELIEVED OUR ALT TO CLB TO WAS 5000' MSL. DURING THE INITIAL CLB THE COPLT RPTED; 'DEP CTL; LTT X LEAVING 2700; CLBING TO 5000'.' APCH CTLR SAID; 'ROGER.' UPON REACHING 3500'; DEP CTL INFORMED US WE WENT THROUGH THE ALT OF 3000'; 'MAINTAIN 4000 AND EXECUTE A HARD RIGHT TURN TO HDG 090.' THIS WE COMPLIED WITH AND IFR SEP WAS MAINTAINED. MON MORNING MY COPLT CONTACTED CHICAGO ATC AND RELAYED THE OCCURRENCE TO THE OPS OFFICE. HE INFORMED MY COPLT THAT THE CLRNC WE RECEIVED WAS GIVEN IN ERROR AND THAT THE ALT IN THE SID SHOULD HAVE BEEN GIVEN ALONG WITH EXPECT 5000' 10 MINS LATER. IN ESSENCE; IT SHOULD HAVE READ; 'MAINTAIN 3000; EXPECT 5000 10 MINS LATER.' THE OPS OFFICER INFORMED MY COPLT THAT HE WOULD INITIATE CORRECTIVE ACTION AT THEIR END.