Ray, if you're staying at the Fairmont... you're not precisely ON Michigan, but a couple of blocks off. Nothing unsurmountable, though.
Let's see...
Daley Plaza (nice spot for people photography, right in front of City Hall; there's a Picasso metal statue and a Miró across the street).
Chagall Murals behind the building that used to be the First National Bank's. Smallish, but well known. I wasn't too lucky shooting them but they may be nice to look at.
Art Institute stairs, with big lions, similar to those of the NY Public Library. This place isn't too far from your hotel. You should go in too... Depending on the length of the conference, but I wouldn't miss it; besides, it's free on Tuesdays. Otherwise, it's a voluntary contribution.
Of course, Millenium Park and Frank Gehry's Pritzker Auditorium: an architectural wonder.
I like the bridge over the Chicago River, right on Michigan, near the Wrigley Building and the Chicago Tribune tower. It's a windy spot but you can get nice shots of the city. In fact, a walk on the upper Wacker drive is a must in Chicago.
The Watertower area is another place you must check out.
Don't forget Jeweler's Row, aka Wabash Avenue. This is my favorite street in Chicago, and you can't miss it: it's all under the L-train rails (it feels like a strange urban tunnel to me). Needless to say, a walk down this area will take you to Central Camera.
Then you have the facades and windows of Marshall Fields and Carson Pirie Scott's ironwork facade. Both are on State Street, and I think Washington Ave. is in between them. Wait: MF has an exit on Washington, but one or two blocks South you'll find Carson's.
More museums? For the kids: the Fields Museum.
If you have a chance: the neighborhoods around the loop, Chinatown and Pilsen (former German enclave and now known as "La Villita" by its Mexican inhabitants) offer interesting views.
How many days are you staying?