What part of the bike measures at 22 inches? I've never measured the "top of the bare rim to the ground" size of the rims that use 24 inch tires. Is it the rim that measures 22 inches? What is the size marked on the tires?
The Sprint models I've seen in 1970's Schwinn catalogs seem to have a frame identical/similar to the Varsity, but with lower level one speed and three speed components. The 1985 Sprint catalog photo Bob Hufford provided shows a nicer bike than the Chicago-made Sprints of the 1970's. But, it is still very much an entry-level model...and it will still be a "basic" bike even after a thorough and careful restoration.
In my experience, fixing up bikes worth $20 and fixing up bikes worth $300 can end up costing a similar amount (replacing inner tubes, replacing tires, regreasing the wheel bearings, bottom bracket, and headset, truing the wheels, and tuning and adjusting the shifting and brakes). That is a lesson I've learned the hard way.
So, if you intend to ride this bike, ask a good LBS to check it over and give you a written estimate of the cost of getting it into good, safe riding condition. If you can not get this bike on the road without spending a hundred bucks, perhaps you should consider saving those dollars for a different bike project.
Last edited by alanbikehouston; 12-01-05 at 07:34 PM.