The Chainlink

I picked up an old Raleigh for super cheap on Craigslist last week, but when I brought it to a bike shop to be looked at, they said that it had been in a collision-- the frame was cracked, fork was bent, it was in worse shape than it looked to the untrained eye.  I emailed the guy who sold it to me, but I don't have high hopes for getting my $40 back.  Most of the parts are in bad shape-- I was intending to strip it and convert it. 

So what should I do with it?  Will West Town Bikes or Working Bikes have the capability or interest to fix it?  I worry that if I leave it in the alley, a bike thief will find it and sell it to some unsuspecting new owner. (In that scenario, I know it's more likely to be found by metal scrappers. I just don't like the idea that another cyclist might end up riding it without realizing that it's unsafe.) 

or hey, anyone here want a broken Raleigh for $20?

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I like Gabe's idea.
As much I hate to admit it that Ghost Bikes are always needed.
On the other hand I can make it a chair for you and a toilet paper holder as well.

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