First how tall are you? The seller gives quite a range of sizes and by looking at the bike it might not be really accurate.
Takaras are a good solid bike and would make a good commuter. I have had a few of them over the years as I have redone bikes to resell. One of my friends still has the one I sold him thats probably pretty similar to this one in overall. At first glance this bike seems overpriced I sold mine for less than half of that and I didn't give that big of a friend discount. After looking through what you have there on your local craigslist maybe not. Yes its worth checking out if its the right size (you better be at least 6') and if its the right size and its ready to ride and you like it offer less and hope to ride off with it for $150 at the most unless there really isn't anything else. There is my 2 cents. =)