Hello Bubba88 Welcome to the forums. I would like to know a bit more about this, what brand of cranks and derailleurs. Are the hubs Ofmega and the freewheel (the cogs) Sante? What about the rims are the Wolber?
I think you have an '84 Nuovo Racing. $270 is a good price but I suspect it needs a bit more than a tuneup. I think a comlete overhaul would be order to get fresh grease in the bearings and everything properly adjusted. maybe some new bartape and pedals too.
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“One morning you wake up, the girl is gone, the bikes are gone, all that's left behind is a pair of old tires and a tube of tubular glue, all squeezed out"
Sugar "Kane" Kowalczyk