According to this Wiki entry, Chippewa Lake Park was in operation from 1878 to 1978.
It began as a simple picnic grounds adjacent to a beautiful lake, and with the addition of a roller coaster and boat ride, became an amusement park. It thrived during the 1920s and was still a popular choice for families right into the 60s and 70s. It finally closed without fanfare in 1978, due to competition from Cedar Point and Geauga Lake.
Unlike other amusement parks that closed, however, its rides were not sold and the land immediately redeveloped. Chippewa Lake Park apparently was just left to deteriorate for more than 30 years. It became a favorite documentary subject of filmmakers who contrasted the decaying park rides and structures with photos and footage of the park in its heyday.
Here's one of those short documentaries that are fairly common on YouTube. This one is pretty creative, with some great clips and now-and-then photo dissolves.
I don't remember my family ever going to Chippewa Lake Park. It was one of those things I remember hearing Captain Penny mention on his TV show, but we were strictly a Cedar Point family.
I remember driving out to Chippewa Lake Park in the 1980s and taking some pictures of the sign and the roller coaster. But that was in the pre-digital camera days, so it's gonna take some digging for me to find those shots.