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I grew up 10 minutes from there, it wasn't closed because of a fire. It was closed in the late 80's or early 90's I forget when exactly just because of financial reasons.
The cool thing it's not just that ONE building, it was pretty much a self sustained little town on it's own. I've been down there a ton of times and it's VERY creepy. Most of it is fenced off, but you can see through the windows that they just left the beds and such laying around in dissaray. I so would not want to go there at night, and I haven't =)
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