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May or may not be a sound investment. (Lydia DePillis)

Back in June, the Examiner reported that SAIL Public Charter School went belly-up because of budgetary issues two weeks before the end of the school year. The same is true of its parent organization, 30-year-old Very Special Arts in Learning D.C., which ran arts programs for disabled people.

Now, the group has puts its building at 16th and L Streets NW on the market for $8.5 million—-that’s $1.8 million more than its current assessed value, and about three times as much as the group paid for the property in 1999. Plus, as Friendship Public Charter Schools learned after they made a deal to take over SAIL, the building would require $1 million in upgrades just to be structurally sound. Oh, and according to property records, it’s still $202,000 behind in property taxes. Buyer beware?