Now it is gone--tore down for the television show Extreme Makeover--so a lot of people will get to see its demise, where only a few ever enjoyed its respite.
From the Saint Meinrad Alumni Newsletter:
One of the first projects Monday night was to tear down The Shady Inn,
which has sat unused for several years, to provide a larger building site. Many
alumni will remember this "hangout," which was located across the street from
the post office.
Once when taking a friend there on our way to Chicago, the owner's wife was heard to say to a patron (about ten times while we were there) "They don't call it 'shady' for nothing."