This elevator has a very scratchy rail, and the scratching noise in the shaft is LOUD and HORRIBLE! Please excuse the inappropriate language that I used in this video.
Yeah, this thing doesn't sound too good. I think all that really needs to be done is the rails may need to be replaced or it just needs maintenance done to it. I do know that maintenance can be quite expensive, so I do understand if they don't have enough money to get it done. Unless it's the only elevator they have, they need to close it to prevent other passengers from having a heart attack on one of these. Personally I like riding death trap elevators (they can be fun), especially low on oil ones.