Doesn't look like it needs any restoration at all, unless you mean new tires, lube, and a wipe down with a damp cloth. You might want to visit your local bike co-op for advice on tires and lube. Nice thing about bike co-ops is they have regular classes on basic bike maintenance; a great thing for a complete noob with no experience (if that's what you are); they walk you through it. The damp cloth part I bet you can figure out on your own.

If you want to get into some special basic tools and do all the work yourself do a google on lubing or repacking bottom brackets and hub bearings. Post some close up pics of the areas in question and we can tell you exactly what tools to buy and where.

This is not a super-special or high end bike, but it's certainly old, interesting and in good enough shape to be worth getting on the road again.

Are you around 5'5" or so? Then it's about your size.