I wish I knew why stuff like this fascinates me....
It's gates had likely closed for the last time around the same time that I was born. It was open for 100 years, surviving even through the Great Depression. If I had to guess, I'd say that the advent of "super" amusement parks like Cedar Point, along with the ease of travelling longer distances over a better network of roads, led to the decline in popularity of "smaller" local amusement parks.
There's a lot more information about Chippewa Lake Park, as well as nine other abandoned Ohio amusement parks, on this page.
