Total posts : 45366
Joe, I think that is probably a power surge resistor sometimes called a snubber. These consist of a resistor and capacitor in series and are used to suppress sparking across switch contacts when they open. It could be that the capacitor inside shorted leaving only the resistance in the circuit.
If the R value is to be believed then you could possible make one with a 270 ohm resistor and perhaps a .01uF cap in series. The cap needs to be rated at 200 V or greater with most for 120 VAC circuits rated at 377V.
The thing which I find strange is that it has a + and a – on it though it is connected to AC.