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Thanks for everyone's suggestions. An update...it is indeed an old abandoned well. Called the township and they verified it was abandoned in 98 when the new well was drilled.
As for why it is so tall, code (or township rules) dictates it has to be capped 24" above grade within 100' of the well. Because this sits in a low spot, it had to be up in the air to get above that code.
So I can't remove it. Probably good I didn't just take a jackhammer to it. But now this is going to be a hassle to work around when all these crap trees get taken down.
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