The home built in 1920 is at the corner of Lake Road and Longacre Lane and is situated at the north end of the old amusement park.
It will soon be home to a small indoor museum that will be open one Saturday a month in the summer and early fall and also will have outdoor displays of relics from the old amusement park, including a ticket booth and ride cars.
"We are beyond pleased to partner with Medina County Park District in restoring the site on the former farm of Parker Beach, a name synonymous with Chippewa Lake," said Gayle Foster, president of the historical society. "Over the past decade, we have collected photos, memorabilia, and oral histories.
"We are excited to finally have a museum to display and share our finds with the community and beyond."
Phase 1 of construction, set to begin next year, will open up public access to the former amusement park, which will become a county park.
The initial work includes parking, trails, restrooms and picnic shelters on the 95-acre property.
The new park will be a place for recreation sans the amusement rides.
The park district does plan to preserve what's left of the amusement park's Ferris Wheel as a static display.
The Chippewa Lake Amusement Park opened in 1878 and closed in 1978.
It once featured rides, games, food booths, a hotel and a ballroom where the likes of bandleaders Benny Goodman, Glenn Miller and Lawrence Welk performed.
The historical society says some notable visitors to the park included Henry Ford and Thomas Edison.
It was also a popular destination for company picnics for workers from Firestone, Ohio Edison, Timken and Rubbermaid.
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