The End of the Park
In 1939 the park was sold to the LeVeque Company (of the same LeVeque Tower in Downtown Columbus). They got rid of nearly all the remaining rides and used to the land to build Olentangy Village.
In the image on the left, the 1922 site is overlayed with the 1953 aerial image. The yellow represents the buildings in the village and how they occupied nearly all the land of the former attractions. The building that lies at High and Olentangy St was a bowling alley which burned down some time ago.
The Park Site Today
The ditch/ravine still exists just north of North St. and south of Giant Eagle. At the point where the drain canal meets the Olentangy River once lay the canoe house and foot bridge, which may still exist. I plan on checking out the area for myself once my camera gets fixed (hopefully soon).
Its sad that none of the park made it to modern times, but for the 60 years it was open it was once of the greatest attractions in Columbus.
As soon as I get down to examining the site for any remains, I'll post back here with an update and pictures. Stay tuned!
(Information for this post comes from my own research, Sanborn Insurance Maps, USGS, Google Earth, and Wikipedia)