Lake Michigan port appealingly elegant in the past (7)
I believe the answer is:
chicago
'lake michigan port' is the definition.
'appealingly elegant in the past' is the wordplay.
'appealingly elegant' becomes 'chic'.
'in the past' becomes 'ago' ('ago' can be a synonym of 'in the past').
'chic'+'ago'='CHICAGO'
(Other definitions for chicago that I've seen before include "Illinois port" , "Musical (in Illinois?)" , "US city - musical featuring All That Jazz" , "City on Lake Michigan" , "A windy place" .)