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Yes, that rock in the middle of the median of the street is a memorial to President William McKinley. On September 5, 1901, after giving a speech at the Pan-American Exposition in Buffalo, New York, William McKinely was shot twice by an anarchist by the name of Leon Czolgosz. Eight days later McKinley died from gangrene. Forty five days after that, Czolgosz died in the electric chair. (Executions moved a bit faster in those days). The Exposition was torn down and a community including Fordham Drive was built in its place. The only thing left to signify the spot where the assassination occurred is the bronze plaque embedded in that rock.

Sarah Vowell discusses the McKinley assassination in some detail (she even visited the rock) in her book, Assassination Vacation. It is well worth reading if presidential assassinations are of interest to you.