Originally Posted by
John E
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Although the original wheelset is 27", you can easily convert to 700C.
It would be a very easy SS conversion, but I don't see any benefit whatsoever in doing that, because I like gears and have nothing but contempt for freewheeling SS conversions, which simply dumb down the bike and compromise its versatility and utility. (A true fixed gear is something different, but just not my thing.)
My recommendation: look for a decent used 700C wheelset with a 6-speed or 7-speed freewheel, spread the rear triangle, install new brake cables and KoolStop pads, and consider replacing those wretched stem shifters with barcons. I commute on a 1970 UO-8 with aluminum rims and cranks and Japanese deraillerus, and it ain't bad at all.
I gotta disagree in that all this is "easy." To convert from 27" wheels, to 700c, you'd have to find long-reach brakes. A SS conversion could be as easy as taking the derailleurs off, and shortening the chain, or more involved like replacing the freewheel. Either way, all of these additional modifications will cost money, and you'll end up spending at least another $60-100.
Also, I'd say $100 is probably a fair price for a UO-8 in Chicago, and if you wait, you probably find one in better condition.