Is there a literal place called Babylon? Is there a modern Babylon in an allegorical sense?
The original Babylon exists as ruins in Iraq. The symbolic Babylon, spoken of in the book of Revelation, exists as an apostate Christian Church, which ruled over kings in the days of the Holy Roman Empire.
Revelation 17:1 And there came one of the seven angels which had the seven vials, and talked with me, saying unto me, Come hither; I will shew unto thee the judgment of the great whore that sitteth upon many waters: 2 With whom the kings of the earth have committed fornication, and the inhabitants of the earth have been made drunk with the wine of her fornication. 3 So he carried me away in the spirit into the wilderness: and I saw a woman sit upon a scarlet coloured beast, full of names of blasphemy, having seven heads and ten horns. 4 And the woman was arrayed in purple and scarlet colour, and decked with gold and precious stones and pearls, having a golden cup in her hand full of abominations and filthiness of her fornication: 5 And upon her forehead was a name written, MYSTERY, BABYLON THE GREAT, THE MOTHER OF HARLOTS AND ABOMINATIONS OF THE EARTH. 6 And I saw the woman drunken with the blood of the saints, and with the blood of the martyrs of Jesus: and when I saw her, I wondered with great admiration.
Revelation 17:15 And he saith unto me, The waters which thou sawest, where the whore sitteth, are peoples, and multitudes, and nations, and tongues. 16 And the ten horns which thou sawest upon the beast, these shall hate the whore, and shall make her desolate and naked, and shall eat her flesh, and burn her with fire. 17 For God hath put in their hearts to fulfil his will, and to agree, and give their kingdom unto the beast, until the words of God shall be fulfilled. 18 And the woman which thou sawest is that great city, which reigneth over the kings of the earth.
The Roman Catholic Church is the only institution in history which fits this description.
She was ‘burned with fire’ at the Reformation when the king of England and the kings of Europe dissolved the monasteries and removed her temporal power.
The Pope was reduced by the French to a ‘prisoner’ in the Vatican City in 1870. Mussolini restored the Papal states to the Church in 1929.
Her daughters came forth after the Reformation – those new churches which adopted the false doctrines of the Mother Church – the trinity, immortal souls, heaven-going at death, division into clergy and laity, super-human devil and demons, burning hell etc.
Her function at the end when Christ returns is that of the false prophet.
Revelation 16:13 And I saw three unclean spirits like frogs come out of the mouth of the dragon, and out of the mouth of the beast, and out of the mouth of the false prophet. 14 For they are the spirits of devils, working miracles, which go forth unto the kings of the earth and of the whole world, to gather them to the battle of that great day of God Almighty. 15 Behold, I come as a thief. Blessed is he that watcheth, and keepeth his garments, lest he walk naked, and they see his shame. 16 And he gathered them together into a place called in the Hebrew tongue Armageddon.
I hope you find this helpful.