Until recently this was a retirement home. I found this description, which obviously is out of date:
Lakeview Home of White County is a Senior Community. Senior communities are for seniors who can take care of themselves. It is often a set of apartments in a variety of sizes from studios to large two bedrooms, where seniors live independently, but may receive additional services like transportation, pools, a convenience store, bank, barber/beauty shop, resident laundry, housekeeping, and security, are all services and amenities that may be provided there.
If you have additional information, please leave it in the comments.
Update: The Journal and Courier had a story about the first auction, for the contents. The home was closed at the start of the year. It had nine residents but could hold about 21.