Joined: Jan 2008
Posts: 23,639
Likes: 1,106
From: Mans of NC & SW UT Desert
Bikes: 86 Katakura Silk, 87 Prologue X2, 88 Cimarron LE, 1975 Sekai 4000 Professional, 73 Paramount, plus more
I never heard of Schwinn making bikes for Sears. Sears used a variety of bottom end contract manufacturers, most of their bikes would be similar in quality to the Huffy. I would dump that bike (sell it on C/L or whatever), fix up the Huffy 3 speed since it is close to road worthy.
I routinely find good LBS branded hybrids USED for around $100. There are many good options that don't involve buying a new bike for $300+ each. You can also find worthy rigid frame MTBs LBS branded for around $100.