So are you saying its still available?

The answer to your questions is it depends. Its not out of the question to say you could buy another bike for $50 or less and move the parts over. It could be even cheaper than that if you find a bike co-op with the stuff you need. If you like the bike then I think you can find a way to convert it to a multi-geared bike pretty inexpensively. You could even just add a rear freewheel or cassette what ever that hub takes, add a rear derailleur and a stem shifter. That would be pretty cheap and easy to do. Of course you could easily spend a bunch of cash if you wanted to convert it back, but if budget is a concern I think you can get it converted within you budget. That bike is worth more than what they are asking for it and would be a great commuter. It looks like its in good shape from the pic.