Join Date: Feb 2012
Location: Denver, CO
Bikes: 1989 Schwinn Voyageur | 1987 Trek 400 | 1984 Trek 520
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I had a trek 470 fast track that I rode for about 6 months. It was a decent bike, but I wouldn't pay more than $225 for it, maybe $285 or so since it's going to be built with a 105 group and by your bike shop mechanic. Mine was a 1995 model and didn't have any braze-ons for racks though. It also had no clearance for fenders with 28mm x 700c tires mounted. Do you know what year it is from? I've looked at Trek's catalogs from that time period and can't find a fast track with braze-ons for racks.
As others have said, I would keep looking for another bike. If you have the time, deals pop up occasionally on both Craigslist and eBay.
Sorry to hear about your wreck. Did any of the parts survive the crash? If so, this could maybe keep costs down.