At its northmost, not only does it pass Michigan Technological University, it actually runs through campus. With Wadsworth and McNair (dorm halls in both cases) on one side, and the rest of campus spanning between US-41 (where it is called College Ave) and the Portage Canal. It is also the main street for downtown Houghton, crosses the canal via the Portage Canal Lift Bridge to Hancock. From there it heads up the middle of the Keewenaw Penisula, passing through Calumet and a handfull of small towns. It ends past Copper Harbor in what amounts to a cul-de-sac in Ft. Wilkins State Park. From there is an easy walk to Michigan's northmost tip, where you can enjoy a scenic view of Lake Superior. It is a good place to take a picnic, but expect some wind. In the summer, the drive from Houghton to Copper Harbor takes about 50 minutes, providing you don't hit a bear or anything.
It takes a little longer, but I also suggest driving Michigan State Highway 206 north from Hancock to see the northwestern edge of the Keewenaw, especially in the fall.