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Northwestern University is founded. Northwestern University was established in 1851 to serve the people of the Northwest Territory, an area that now includes the states of Ohio, Indiana, Illinois, Michigan, Wisconsin, and part of Minnesota. In 1853, the founders purchased a 379-acre tract of land on the shore of Lake Michigan 12 miles north of Chicago. The town that grew up around the University was named Evanston in honor of one of the University's founders, John Evans.
After completing its first building in 1855, Northwestern began classes that fall with 2 faculty and 10 students. By 1900, the University had grown to include 7 undergraduate and graduate schools with 2,700 students and an annual budget of more than $200,000. (History).
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