because I am aware that it possesses a long history and a reputation for high-caliber, rigorous teaching and learning.
The sentence that comes after this one should probably give an example to back up the claim that you are aware of the rigor that distinguishes the school. How do you know, and how is it different? Can you add a sentence between sentence one and sentence two?
well-rounded curriculum and its stellar facilities. ------ again, this is a sentence that should be followed by some evidence/elaboration.
Keeping this in mind, I am certain that Illinois Institute of Technology will prepare me exceptionally well and help me to become a strong person. Boring, unnecessary sentence.
IIT will prepare me to be a positive contributor to the world by the educational and socially... -----> good, but try to work in as many details and examples as you can so that you make a crisp, clear impression.
You write very well, very eloquently. Just use less filler (i.e. "prepare me to be a positive contributor") and more SUBSTANCE (i.e. I intend to achieve the following goals: ....)
:-)