This is a crop from a larger picture that I have. The exact same picture can be see in the MPL Milwaukee Waterways digital collection here. It shows an area that has changed tremendously starting in the early 1990s and continuing today.
Originally the area was a recreational spot with boating and swimming and ice skating in the winter above the dam. This picture from 1948 shows many coal yards piled up in the train switching yards and also west of the Humboldt bridge. Rohn’s swimming school still stood although it didn’t last too much longer. By then, the runoff from the coal piles and other industrial pollution was making the area unfit to swim.