This section of Michigan Avenue runs along the top of a ridge, and was originally a trail used by the native peoples. In the early 20th Century, the State Street streetcar line was extended via Michigan to 119th Street, and a shopping strip developed. That's a postwar PCC streetcar in the 1955 photo.
Gately's Peoples Store, long a fixture on the Michigan Avenue, closed during the 1980s. The streetcars have been replaced by buses, too.