The Vermont building that housed a now-defunct college where U.S. Senator Bernie Sanders' wife was president has been sold at auction.
People's United Bank took ownership of the former Burlington College property Wednesday for $3.1 million, about $650,000 less than the college has in debts.
The Burlington Free Press reports that developer Eric Farrell hopes to buy the building.
Burlington College closed last year after struggling with the $10 million purchase of property and buildings from the Roman Catholic Diocese of Burlington it made in 2010 during Jane Sanders' presidency.
Federal investigators are looking into the finances behind the real estate deal.
A spokesman for the Sanders’ says the allegations that prompted the investigation were politically motivated.
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