I would like to know what you all think about the Trek 1100 road bike.

I have a shot at one that looks to be in great condition. The paint looks very good as does the drive train and brakes, wheels etc. It has new Michelin 700c tires on it (not sure of the exact size). It has been completely rebuilt (so the LBS says), lubricated and adjusted. I took it out for a short spin and it seems fine to me. They want $250US for it. Is that a gook price or am I being taken for a ride?