There are a dozen of these around the town now, this one in particular needs some TLC since most of the paint is cracked.
I have researched this place further and discovered this place is nothing interesting. Let alone the fact that this is on someone's farm. They have asked that people stop showing up on their property investigating their home. The cemetery seems to be their family grave site.
I visited here with a photographer friend during an 18 degree, snowy weekday morning and saw dozens of other urban explorers. Don't let this town scare you, sure it's creepy in the moments you're alone, but that shouldn't last long. We began seeing other people upon minutes after our arrival. I highly suggest google earthing it before going so you can know where to go. See graffiti highway or (old rt 66), the old church, both graveyards and the sink hole and that's pretty much it. be very careful though because it is possible to fall through.
I went to this Ren faire as a kid, really sad to have seen it go under.