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John Evans, for whom Evanston is named, bought 379 acres (153 ha) of land along Lake Michigan in 1853, and Philo Judson developed plans for what would become the city of Evanston, Illinois. The first building, Old College, opened on November 5, 1855. To raise funds for its construction, Northwestern sold $100 "perpetual scholarships" entitling the purchaser and his heirs to free tuition. Another building, University Hall, was built in 1869 of the same Joliet limestone as the Chicago Water Tower, also built in 1869, one of the few buildings in the heart of Chicago to survive the Great Chicago Fire of 1871. In 1873 the Evanston College for Ladies merged with Northwestern, and Frances Willard, who later gained fame as a suffragette and as one of the founders of the Woman's Christian Temperance Union (WCTU), became the school's first dean of women. Willard Residential College (1938) is named in her honor. Northwestern admitted its first women students in 1869, and the first woman was graduated in 1874.
What did Northwestern sell to raise funds for it's first building?
$100 "perpetual scholarships"