My parents in law were cleaning out their garage and gave my wife her pink banana-seat schwinn bike from her childhood. We aren't sure what to do with it. My first thought is to clean it up, get it in good working order and give it to our 2.5 YO girl when she gets tall enough to ride it in a few years, but someone told me that this thing is a "classic" bike that is likely to get stolen. Right now its in pretty bad shape. There is significant surface rust, and the paint job is toast. The hubs have quite a bit of resistance to them also.
Anyone out there have any advice?