1957: Elvis Presley closes a huge real estate deal on this day when he purchases the Graceland mansion in Memphis, Tennessee. He paid $102,500 for the 13-acre estate.
The land was originally purchased by Stephen Toof, owner of a successful printing firm, in the late 19th Century. Toof named the grounds Graceland Farms, after his daughter Grace. The mansion was built in 1939 by Grace’s niece, Ruth Moore and her husband, Dr. Thomas Moore.
Today, it is an Elvis museum that draws more than 600,000 visitors a year, second only to the White House.
