I have just learned the train is now on display at the Grand Rapids Public Museum! It was donated to the museum in 2000 and will be on display Nov. 22 thru Jan 4. The train now belongs to the museum and will be preserved there.
This document has lots of interesting information about the train.
Perhaps one day it will run again. It would complement the carousel nicely!
Here is the Museum's website. I did not find anything on the train there.
Many thanks to Kristy Harrington, Marketing and Public Relations Specialist for the Public Museum, for sharing this information with me!