Galatasaray Square is located at approximately the center of the avenue and is home to one of the finest educational institutions established in Turkey at the time of the Ottoman Empire; originally known as the Galata Sarayı Enderun-u Hümayunu (Galata Palace Imperial School) and today known as Galatasaray Lisesi.
In the historic Karaköy district towards the end of the avenue, it is possible to see the world's second-oldest subway station, generally known and referred to as simply Tünel (The Tunnel) which entered service in 1875. Moreover, the German High School of Istanbul (Deutsche Schule Istanbul in German, Özel Alman Lisesi in Turkish) is also located near Tünel.
During the Ottoman period, the avenue was called Cadde-i Kebir (Grand Avenue) and was a popular spot for Ottoman intellectuals, also becoming a center for European foreigners and the local Italian and French Levantines who referred to it as Grande Rue de Péra. When 19th century travelers referred to Constantinople (today, Istanbul) as the Paris of the East, they were mentioning the Grande Rue de Péra (İstiklal Caddesi) and its half-European, half-Asian culture. With the declaration of the Republic on October 29, 1923, the avenue's name was changed to İstiklal (Independence) for commemorating the triumph at the Turkish War of Independence.
Panoramic view of İstiklal Avenue as seen from Galatasaray Square in front of the main entrance gate of Galatasaray Lisesi