Summary from Davison Index article Dec 2008:
The old Russellville Ballroom had a similar trajectory many other ballrooms around the state did. It started out as a dance hall in the 1940's featuring the big band sound, transitioned to a rock and roll joint in the 1950's, then harder rock into the 1970's and beyond into the 90's. Foghat and Blue Oyster Cult played some of the last shows here and they were big bands back then. I've seen both of them myself in much larger venues.
There was an auction in 1976 to get rid of much of the contents. Sometime around 1993, a plan was hatched to convert the place into a steakhouse but that failed to materialize. It was later used as a church but they fell behind on the property taxes. That resulted in it being owned by Land Bank. In 2008, the building was razed. As of 2023, the land is being used as a private residence.