Those Schwinns are great bikes!!! A fabulous platform for a commuter! If the shifters work, you cant really go wrong.
That is a good price for it, if everything works, as in; only needs minor tuneup. Those old bikes are going to need a little tweaking and oiking but they are sooooo far above cheap, new stuff, there can be no comparison. That bike, with the aforementioned flat-resistant tire, lights and a mirror, would make a great, bombproof commuter. You might need a bike shop to set it up for you, but still, a great investment. I only commute on old steel. My current commuter is from 1977. A testament to the way those olde sleds were built