I wouldn't refer to the 17" wheels as chick wheels, since the 20" wheels are fashion wheels, lol.

Seriously, if the wheels were properly mounted, they are unlikely to have caused any suspension problems by themselves. That said, larger wheels are harder on suspension components than standard wheels, and something that was close to failing may have had its failure accelerated by the larger wheels.

Get the suspension checked out to see what is causing the noise. Then decide how critical it is, and how soon it needs to be addressed.

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2007 X3 3.0si, 6 MT, Premium, White

Retired:
2008 535i, 6 MT, M Sport, Premium, Space Grey
2003 X5 3.0 Steptronic, Premium, Titanium Silver
2002 325xi 5 MT, Steel Grey
2004 Z4 3.0 Premium, Sport, SMG, Maldives Blue