diff --git a/lib/src/io_utils.dart b/lib/src/io_utils.dart
index ad05e4caee..2be1ffa625 100644
--- a/lib/src/io_utils.dart
+++ b/lib/src/io_utils.dart
@@ -5,6 +5,8 @@
 /// This is a helper library to make working with io easier.
 library dartdoc.io_utils;
 
+import 'dart:async';
+import 'dart:collection';
 import 'dart:convert';
 import 'dart:io' as io;
 
@@ -118,40 +120,91 @@ final RegExp partOfRegexp = RegExp('part of ');
     'as Dartdoc 1.0.0')
 final RegExp newLinePartOfRegexp = RegExp('\npart of ');
 
-/// Best used with Future<void>.
-class MultiFutureTracker<T> {
-  /// Approximate maximum number of simultaneous active Futures.
-  final int parallel;
+typedef TaskQueueClosure<T> = Future<T> Function();
 
-  final Set<Future<T>> _trackedFutures = {};
+class _TaskQueueItem<T> {
+  _TaskQueueItem(this._closure, this._completer, {this.onComplete});
 
-  MultiFutureTracker(this.parallel);
+  final TaskQueueClosure<T> _closure;
+  final Completer<T> _completer;
+  void Function() onComplete;
 
-  /// Wait until fewer or equal to this many Futures are outstanding.
-  Future<void> _waitUntil(int max) async {
-    while (_trackedFutures.length > max) {
-      await Future.any(_trackedFutures);
+  Future<void> run() async {
+    try {
+      _completer.complete(await _closure());
+    } catch (e) {
+      _completer.completeError(e);
+    } finally {
+      onComplete?.call();
     }
   }
+}
+
+/// A task queue of Futures to be completed in parallel, throttling
+/// the number of simultaneous tasks.
+///
+/// The tasks return results of type T.
+class TaskQueue<T> {
+  /// Creates a task queue with a maximum number of simultaneous jobs.
+  /// The [maxJobs] parameter defaults to the number of CPU cores on the
+  /// system.
+  TaskQueue({int maxJobs})
+      : maxJobs = maxJobs ?? io.Platform.numberOfProcessors;
+
+  /// The maximum number of jobs that this queue will run simultaneously.
+  final int maxJobs;
+
+  final Queue<_TaskQueueItem<T>> _pendingTasks = Queue<_TaskQueueItem<T>>();
+  final Set<_TaskQueueItem<T>> _activeTasks = <_TaskQueueItem<T>>{};
+  final Set<Completer<void>> _completeListeners = <Completer<void>>{};
+
+  /// Returns a future that completes when all tasks in the [TaskQueue] are
+  /// complete.
+  Future<void> get tasksComplete {
+    // In case this is called when there are no tasks, we want it to
+    // signal complete immediately.
+    if (_activeTasks.isEmpty && _pendingTasks.isEmpty) {
+      return Future<void>.value();
+    }
+    final completer = Completer<void>();
+    _completeListeners.add(completer);
+    return completer.future;
+  }
+
+  /// Adds a single closure to the task queue, returning a future that
+  /// completes when the task completes.
+  Future<T> add(TaskQueueClosure<T> task) {
+    final completer = Completer<T>();
+    _pendingTasks.add(_TaskQueueItem<T>(task, completer));
+    if (_activeTasks.length < maxJobs) {
+      _processTask();
+    }
+    return completer.future;
+  }
 
-  /// Generates a [Future] from the given closure and adds it to the queue,
-  /// once the queue is sufficiently empty.  The returned future completes
-  /// when the generated [Future] has been added to the queue.
-  ///
-  /// If the closure does not handle its own exceptions, other calls to
-  /// [addFutureFromClosure] or [wait] may trigger an exception.
-  Future<void> addFutureFromClosure(Future<T> Function() closure) async {
-    await _waitUntil(parallel - 1);
-    Future<void> future = closure();
-    _trackedFutures.add(future);
-    // ignore: unawaited_futures
-    future.then((f) {
-      _trackedFutures.remove(future);
-    }, onError: (s, e) {
-      _trackedFutures.remove(future);
-    });
+  // Process a single task.
+  void _processTask() {
+    if (_pendingTasks.isNotEmpty && _activeTasks.length <= maxJobs) {
+      final item = _pendingTasks.removeFirst();
+      _activeTasks.add(item);
+      item.onComplete = () {
+        _activeTasks.remove(item);
+        _processTask();
+      };
+      item.run();
+    } else {
+      _checkForCompletion();
+    }
   }
 
-  /// Wait until all futures added so far have completed.
-  Future<void> wait() async => await _waitUntil(0);
+  void _checkForCompletion() {
+    if (_activeTasks.isEmpty && _pendingTasks.isEmpty) {
+      for (final completer in _completeListeners) {
+        if (!completer.isCompleted) {
+          completer.complete();
+        }
+      }
+      _completeListeners.clear();
+    }
+  }
 }
diff --git a/lib/src/model/package_graph.dart b/lib/src/model/package_graph.dart
index d088ec260f..7ac8c07122 100644
--- a/lib/src/model/package_graph.dart
+++ b/lib/src/model/package_graph.dart
@@ -86,7 +86,7 @@ class PackageGraph with CommentReferable, Nameable {
     // specialClasses handler so when we find them, they get added.
     specialClasses = SpecialClasses();
     // Go through docs of every ModelElement in package to pre-build the macros
-    // index.  Uses toList() in order to get all the precaching on the stack.
+    // index.
     await Future.wait(precacheLocalDocs());
     _localDocumentationBuilt = true;
 
@@ -153,6 +153,8 @@ class PackageGraph with CommentReferable, Nameable {
       }
       yield* precacheOneElement(m);
     }
+    // Now wait for any of the tasks still running to complete.
+    yield config.tools.runner.wait();
   }
 
   // Many ModelElements have the same ModelNode; don't build/cache this data more
diff --git a/lib/src/tool_runner.dart b/lib/src/tool_runner.dart
index 23e8737fc8..f45e85d925 100644
--- a/lib/src/tool_runner.dart
+++ b/lib/src/tool_runner.dart
@@ -17,10 +17,6 @@ typedef ToolErrorCallback = void Function(String message);
 typedef FakeResultCallback = String Function(String tool,
     {List<String> args, String content});
 
-/// Set a ceiling on how many tool instances can be in progress at once,
-/// limiting both parallelization and the number of open temporary files.
-final MultiFutureTracker<void> _toolTracker = MultiFutureTracker(4);
-
 class ToolTempFileTracker {
   final ResourceProvider resourceProvider;
   final Folder temporaryDirectory;
@@ -66,6 +62,12 @@ class ToolRunner {
   /// generated by the tool.
   ToolRunner(this.toolConfiguration);
 
+  /// Set a ceiling on how many tool instances can be in progress at once,
+  /// limiting both parallelization and the number of open temporary files.
+  static final TaskQueue<String> _toolTracker = TaskQueue<String>();
+
+  Future<void> wait() => _toolTracker.tasksComplete;
+
   final ToolConfiguration toolConfiguration;
 
   Future<void> _runSetup(
@@ -131,16 +133,12 @@ class ToolRunner {
       Map<String, String> environment}) async {
     assert(args != null);
     assert(args.isNotEmpty);
-    Future<String> runner;
-    // Prevent too many tools from running simultaneously.
-    await _toolTracker.addFutureFromClosure(() {
-      runner = _run(args,
+    return _toolTracker.add(() {
+      return _run(args,
           toolErrorCallback: toolErrorCallback,
           content: content,
           environment: environment);
-      return runner;
     });
-    return runner;
   }
 
   Future<String> _run(List<String> args,
diff --git a/test/io_utils_test.dart b/test/io_utils_test.dart
index d22c95d9bf..ee24db4243 100644
--- a/test/io_utils_test.dart
+++ b/test/io_utils_test.dart
@@ -18,64 +18,60 @@ void main() {
     });
   });
 
-  group('MultiFutureTracker', () {
-    /// A special test designed to check shared [MultiFutureTracker]
+  group('TaskQueue', () {
+    /// A special test designed to check shared [TaskQueue]
     /// behavior when exceptions occur after a delay in the passed closures to
-    /// [MultiFutureTracker.addFutureFromClosure].
+    /// [TaskQueue.add].
     test('no deadlock when delayed exceptions fire in closures', () async {
-      var sharedTracker = MultiFutureTracker(2);
+      var sharedTracker = TaskQueue(maxJobs: 2);
       expect(() async {
         var t =
             Future.delayed(Duration(milliseconds: 10), () => throw Exception());
-        await sharedTracker.addFutureFromClosure(() => t);
+        await sharedTracker.add(() => t);
         return t;
       }, throwsA(const TypeMatcher<Exception>()));
       expect(() async {
         var t =
             Future.delayed(Duration(milliseconds: 10), () => throw Exception());
-        await sharedTracker.addFutureFromClosure(() => t);
+        await sharedTracker.add(() => t);
         return t;
       }, throwsA(const TypeMatcher<Exception>()));
       expect(() async {
         var t =
             Future.delayed(Duration(milliseconds: 10), () => throw Exception());
         // ignore: empty_catches
-        await sharedTracker.addFutureFromClosure(() => t);
+        await sharedTracker.add(() => t);
         return t;
       }, throwsA(const TypeMatcher<Exception>()));
       expect(() async {
         var t =
             Future.delayed(Duration(milliseconds: 10), () => throw Exception());
-        await sharedTracker.addFutureFromClosure(() => t);
+        await sharedTracker.add(() => t);
         return t;
       }, throwsA(const TypeMatcher<Exception>()));
 
       /// We deadlock here if the exception is not handled properly.
-      await sharedTracker.wait();
+      await sharedTracker.tasksComplete;
     });
 
     test('basic sequential processing works with no deadlock', () async {
       var completed = <int>{};
-      var tracker = MultiFutureTracker(1);
-      await tracker.addFutureFromClosure(() async => completed.add(1));
-      await tracker.addFutureFromClosure(() async => completed.add(2));
-      await tracker.addFutureFromClosure(() async => completed.add(3));
-      await tracker.wait();
+      var tracker = TaskQueue(maxJobs: 1);
+      await tracker.add(() async => completed.add(1));
+      await tracker.add(() async => completed.add(2));
+      await tracker.add(() async => completed.add(3));
+      await tracker.tasksComplete;
       expect(completed.length, equals(3));
     });
 
     test('basic sequential processing works on exceptions', () async {
       var completed = <int>{};
-      var tracker = MultiFutureTracker(1);
-      await tracker.addFutureFromClosure(() async => completed.add(0));
-      await tracker
-          .addFutureFromClosure(() async => throw Exception())
-          .catchError((e) {});
-      await tracker
-          .addFutureFromClosure(() async => throw Exception())
-          .catchError((e) {});
-      await tracker.addFutureFromClosure(() async => completed.add(3));
-      await tracker.wait();
+      var tracker = TaskQueue(maxJobs: 1);
+      await tracker.add(() async => completed.add(0));
+      await tracker.add(() async => throw Exception()).catchError((e) {});
+      await tracker.add(() async => throw Exception()).catchError((e) {});
+      await tracker.add(() async => completed.add(3));
+      await tracker.tasksComplete;
       expect(completed.length, equals(2));
     });
 
@@ -83,28 +79,34 @@ void main() {
     /// of in-flight [Future]s that there is no deadlock.
     test('basic parallel processing works with no deadlock', () async {
       var completed = <int>{};
-      var tracker = MultiFutureTracker(10);
+      var tracker = TaskQueue(maxJobs: 10);
       for (var i = 0; i < 100; i++) {
-        await tracker.addFutureFromClosure(() async => completed.add(i));
+        await tracker.add(() async => completed.add(i));
       }
-      await tracker.wait();
+      await tracker.tasksComplete;
       expect(completed.length, equals(100));
     });
 
     test('basic parallel processing works on exceptions', () async {
       var completed = <int>{};
-      var tracker = MultiFutureTracker(10);
+      var tracker = TaskQueue(maxJobs: 10);
       for (var i = 0; i < 50; i++) {
-        await tracker.addFutureFromClosure(() async => completed.add(i));
+        await tracker.add(() async => completed.add(i));
       }
       for (var i = 50; i < 65; i++) {
-        await tracker.addFutureFromClosure(() async => throw Exception());
+        try {
+          await tracker.add(() async => throw TestException());
+        } on TestException {
+          // Ignore
+        }
       }
       for (var i = 65; i < 100; i++) {
-        await tracker.addFutureFromClosure(() async => completed.add(i));
+        await tracker.add(() async => completed.add(i));
       }
-      await tracker.wait();
+      await tracker.tasksComplete;
       expect(completed.length, equals(85));
     });
   });
 }
+
+class TestException implements Exception {}
diff --git a/tool/grind.dart b/tool/grind.dart
index 5a85091b42..a6607a0966 100644
--- a/tool/grind.dart
+++ b/tool/grind.dart
@@ -49,8 +49,8 @@ final String defaultPubCache = Platform.environment['PUB_CACHE'] ??
     path.context.resolveTildePath('~/.pub-cache');
 
 /// Run no more than the number of processors available in parallel.
-final MultiFutureTracker testFutures = MultiFutureTracker(
-    int.tryParse(Platform.environment['MAX_TEST_FUTURES'] ?? '') ??
+final TaskQueue testFutures = TaskQueue(
+    maxJobs: int.tryParse(Platform.environment['MAX_TEST_FUTURES'] ?? '') ??
         Platform.numberOfProcessors);
 
 // Directory.systemTemp is not a constant.  So wrap it.
@@ -1114,21 +1114,21 @@ Future<void> tryPublish() async {
 @Depends(clean)
 Future<void> smokeTest() async {
   await testDart2(smokeTestFiles);
-  await testFutures.wait();
+  await testFutures.tasksComplete;
 }
 
 @Task('Run non-smoke tests, only')
 @Depends(clean)
 Future<void> longTest() async {
   await testDart2(testFiles);
-  await testFutures.wait();
+  await testFutures.tasksComplete;
 }
 
 @Task('Run all the tests.')
 @Depends(clean)
 Future<void> test() async {
   await testDart2(smokeTestFiles.followedBy(testFiles));
-  await testFutures.wait();
+  await testFutures.tasksComplete;
 }
 
 @Task('Clean up pub data from test directories')
@@ -1166,7 +1166,7 @@ Future<void> testDart2(Iterable<File> tests) async {
   var parameters = <String>['--enable-asserts'];
 
   for (var dartFile in tests) {
-    await testFutures.addFutureFromClosure(() =>
+    await testFutures.add(() =>
         CoverageSubprocessLauncher('dart2-${path.basename(dartFile.path)}')
             .runStreamed(Platform.resolvedExecutable,
                 <String>[...parameters, dartFile.path]));