Roll-Monroe-Co

Hi guys-

At my co-op I spied a donated frame. I'd like to offer them cash for it as-is, but I don't know what's fair. It's important to me to give at least a market price. I love that coop as if it were my own business.

I don't have much info, but here's what I've got: It's a black Raleigh roadster with rod brakes. Seems to be NO WHEELS. Hockey stick-type chainguard. No saddle or seatpost. Otherwise, it appears to have bars with levers for rod brakes and the crankset is complete. There is considerable rust on the chrome and considerable (but surface-looking) rust showing through the paint on the rear stays. The frame is quite tall looking. I was surprised by that because they are usually shrimpy.

I'm in a midwest college town. I doubt these guys would go to the trouble to get it functioning again in the original way.

I don't see many bikes like this around. Supposing that it's not bent, the rust is not terminal, and there aren't wheels hidden somewhere, what would you offer as a fair price? What if there were wheels?

Thanks for any replies.

Eric