The High Falls. According to the sign at the foot of the falls, "The Chagrin River was named for Francois Seguin, a Frenchman who traded with Native Americans in Northeast Ohio circa 1742. The "High Falls" of the Chagrin River primarily attracted settlers from New England (circa 1833) seeking a location with ample waterpower. By the mid-nineteenth century an axe factory, a foundry, 2 flour mills, 4 woolen mills, 2 sawmills, 3 paper mills, and a woodenware factory had been built along the riverbanks in Chagrin Falls. The "High Falls" provided a power source for a gristmill, built in 1836 at this location. Today only one factory remains in operation in the Village of Chagrin Falls."