MRT2

If it fits, that might work. Any decent bike might work, though only you know how much riding you intend to do. That style bike is probably best for shorter rides, maybe 10 to 15 miles. That said, if you are just riding for health and fitness and not for speed or on fast club rides, no reason you couldn't ride that bike an hour a day, every day when the mild weather eventually returns to the Midwest. For about $200 or $250, it is probably a good value, though I would say that if cycling is your thing, you will probably be looking for something better in a year or two. It is probably an OK value at $300.

It wouldn't be my first choice, but I have been riding for 16 years and know what I like and don't like, and generally I don't care for suspension forks and, especially, suspension seatposts. (that said, I rented a bike with both last fall on vacation and didn't hate it as much as I hated other suspension forks and seatposts in the past) New, I believe that bike cost about $500 retail. Only you know how much you will need that suspension front fork. Useful if you ride a lot of gravel, not so much if you ride mostly paved roads. Worth checking out. I don't know what your used market is like, but I would offer $250 and see if the seller takes it.

Once you get a bike, ride as much as you like, but mix it up. Cycling is good exercise, but not the only exercise. Weights, jogging, walking, yoga, etc... are equally important as your body will adapt to riding fairly quickly. Also, if you are in slim down mode, it is still more about what, and how much you eat as it is about how much you ride. So stick with water, rather than sports drinks when out on rides. You might need an energy bar or some trail mix on a long ride, but not too much. It is surprisingly easy to make improvements to your bike fitness and not lose any weight at all.