Unity lighting turning off when baked, Unity lighting clarification

I’m a student who’s started using Unity this year, and I had a general and specific question about Unity’s lighting in Unity 5.

I have a factory level set up, illuminated by the factory point and spotlights. There are quite a few of them, and they’re all set to Important and Realtime baking. This is how they’re currently lit set to Realtime baking (whether Continuous Baking or Built Baking).

Realtime lights.

In the interest of efficiency and running much smoother on lower end hardware, I decided to try out Baked in the Object Light settings. I set all my lights to baked, all of their render modes are Important, and almost everything in the scene is marked Static. This is how it appears when the lighting finished building (whether in Continuous Baking or Built Baking).

Baked lights.

I’m unsure why everything in the scene is now completely unlit. This is also where some clarification would be nice.

See, I’m also wondering the difference between the Baking options under the Object Lighting (Baked, Realtime and Mixed) and the Continuous and Built Baking at the bottom of the Lighting tab. I understand each point or spotlight being baked would reduce load, but does that mean continuous baking also needs to be off? Or can continuous baking be off but lights also be realtime?

Thanks for any help here!

I’ve just left it on realtime to keep it less complicated, but it really is taking a toll on the systems on which the game runs. Mixed does the same thing. All my objects are set to static, my pixel light count is generously high. What could be happening?