My first 10-speed bike back in the 1980s was a Schwinn Le Tour. Don't remember anything about the geometry, but it struck me a being more of a racing bike (as in Le Tour de France) than a touring bike. I don't recall mine having mounting points for racks or fenders, for example. You can make anything with two wheels work as a touring bike in a pinch, but the Schwinn Le Tour probably wouldn't be my first choice for a touring bike.
If you need a cheap frame, check out Nashbar's double-butted aluminum touring frame. It's frequently on sale for around $100 and the fork is another $40 or so. The ride is quite nice with 700x32 or larger tires. I've been very happy with mine...