A number of street names in this area are unclear as to origin. It appears that certain streets were called (by their subdividers) names merely reminiscent of British elegance. This appears to be the case here, as well as in Marlboro Rd, and Murray Ave. Cambridge Ave was an older name, seen on the 1891 map of Englewood, and still prevalent today. 
- Griffin et al, Dustin (2003). Englewood: Historical Sketches. Englewood Historical Society. p. 58.