Originally Posted by
laundromatt
thanks for the reply. nothing is seized - everything works fine, despite the rust in some places.
i wanted to go for an off-the-shelf bike, but i don't have a job, so the only money i have available is about $100 (from my birthday and from selling a few things). i was hoping to convert this by going with the new rear wheel + cog + lockring for around a hundred bucks...
You can single speed that bike for the price of a chain tool and an allen key. Less if you have a bike co-op around in your area.