Arcola is an unincorporated community and census-designated place in Lake Township, Allen County, in the U.S. state of Indiana. The population of the community is 33. Once a train station for farm products, in more recent years it has become a bedroom community of Fort Wayne. The community has a volunteer fire department and an elementary schoo…Arcola is an unincorporated community and census-designated place in Lake Township, Allen County, in the U.S. state of Indiana. The population of the community is 33. Once a train station for farm products, in more recent years it has become a bedroom community of Fort Wayne. The community has a volunteer fire department and an elementary school in the building which once housed grades one through twelve, including Arcola High School. An annual Arcola tractor pull is held in the community.