Redline bikes are good, dependable bikes. The R540 originally sold for $540 new (2008). If the bike is in good shape then I'd go for it. Since you're using it as a commuter, look to see if the bike has the features you may want or need for commuting -- like rack mounts (I didn't see any in the online pics), component wear, frame cracks, etc.
http://www.bikepedia.com/QuickBike/B...R540&Type=bike
Did you ask about it in the Commuting forum?
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I am a cyclist. I am not the fastest or the fittest. But I will get to where I'm going with a smile on my face.