Missing a front brake which is weird. Here is the catalog listing for the bike:
1987 Trek Bicycle Brochure. You'd better be pretty tall because this is a really big bike. This could be a 25.5 from the pics (looks bigger than a 24) which is a heck of a big bike. The parts are nice, the frame is good quality; the paint job isn't bad for an old bike. If the bike fits you, I'd offer something less maybe $250 or so. Vintage treks command a premium but this bike isn't going to fit a lot of riders.