Spotted this last night on CL for CHEAP. Year unknown, a little rough but fully functional and it has some decent parts. Champion No.2 tubing, Tange forged fork ends and dropouts. Has me a bit puzzled because out of all the pics I have found, and it's a lot, of Shogun 500's this vintage not one had stem shifters. It has a Sakae triple crankset and everything else is Shimano including the hubs, no model name on any of it but it appears to have been decent stuff. I'm wondering if the original owner had it switched over from DT's. Not sure what I'm going to do with it, I'll either clean it up and flip it or part it out. I'm leaning heavily toward parting it out.
This was under the gel pad........ nothing special but in excellent condition except for one tiny scuff on the other side.