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The community was named after the historical Spanish city of Lima, from which many of the area's early settlers had emigrated. In 1831, a group of Old 100 families (immigrants who arrived before 1830) established the first European-American settlement in present-day Allen County on 50 acres (200,000 m2) donated by Daniel Shayne for that purpose. The original village was platted on November 7, 1838 and included 134 lots with streets named for principal investors and founders: Lincoln Avenue; Jefferson Avenue; Madison Street; Monroe Street; Washington Street and Jackson Streets were laid out parallel to each other while Superior street ran perpendicular to them all at an angle between Madison & Jefferson Avenues.