I've found this is Craig's list
bicycle 10 speed
While it might not be the best bike it's a 20 dollar fixer up bike that I can ride. My friends and I have mad a promise to each other that we are going to train for the little 500 next year. so this bike might be a cheap temporary fix to my bike problems. The owner has been slow to respond but he has the petles he just took them off to hang it up. Hopefully he gets back to me ASAP I wanted to pick it up today, but emailed him again saying ill get it tomorrow since its starting to get dark here. But anyway enough of my blabber I just wanted to share this.

I cant tell what it is from the pic but looks pretty good for $20.

The woman who owned this is elderly and can no longer ride it. So I guess she's being generous. It looks like a nice bike, even if it needs fixed up, 20 bucks isn't bad price for a bike that already has drops on it!!

I don't know.. that could become a money pit real quick.

You're right but I feel like the wheels and drops with the brakes are worth that 20 alone.

Yeah, agreed, it can be highly variable as to what you get into.
If you're satisfied to ride it the way it is, rather than upgrade anything; if you do your own tuning, etc.; and if everything works on it now, then you're in good shape.
Slap a couple of high-quality tires and tubes and some brake pads on it, and you've got a $170 bike instead of a $20 bike, though.
(Is it the right size, by the way?)

I'm hopefully going to see tomorrow, the woman said she's 5'8 I'm 5'6 would it be that big of a difference?

Define "worth". Re-sell? Maybe. Starting point for making a ridable bike? Maybe. The problem is that you can't see the condition of the bb and the hubs without taking them apart. If nothing feels too bad on initial inspection (and the bike fits of course) then yeah it's probably worth $20.

Worth as in I can take those off that bike and build another bike with the wheels and drops, I'm not looking for a high end bike right now, just something cheap to get around/train on.

By the way, what is bb?

Bottom Bracket.

Well if it fits then you can't go wrong with a $20 bike. I wish you good luck

Short answer: Possibly.

If I'm looking at that picture correctly, it looks like the seatpost is pretty much slammed- that can be a sign that the frame is too big for the current owner. Unless you got longer than normal legs for your height, it may well be too big for you as well. Won't know until you take it for a spin, though.

Could also be that the current owner didn't set it up correctly, and has the seatpost slammed to allow both feet to be flat on the ground while on the saddle.

My vote is for this.

it also looks like the seat post and reflector on the seat post are wrapped with a bunch of packing tape. Maybe the old lady couldn't tighten the seat bolt or lost the clamp/bolt entirely?

I, as another woman, vote no. I just looked at the Indianapolis CL and there are some very nice bicycles there. Expand your search area. You may want to find a mechanic first and have him help you with your choice. I am not in you area, but I would be happy to explain my road to finding the right bicycle(s) for me. I have both new road bicycles as well as vintage commuters. Send a pm if you like.

Please do not go alone if you decide to purchase.

Another option: https://bloomingtonbikeproject.com/

A bit of a drive, but may be worth the trip!
https://www.oldbikesbelong.com/

i know as a woman this might sound crazy... But I can do my own bike work, I'm not helpless just because I'm a woman... Seriously this post just made me feel like I'm back in the 1800s.... Anyway yes I know how to be my own mechanic surprising I know...

So sorry. I was only trying to be helpful and was not aware you could wrench your own bicycle. I had confused you with another member searching for a commuter.

I just picked up an old piece of junk bike that looks like it is in similar condition. And I spent $60.00 on new tubes, tires and tire liners and it's not close yet to being road worthy.

I am only surprised by your hostile response to my attempt to be helpful. I was part of the movement toward Title IX, that was in the 1970s, not the 1800s.

Title IX and Sex Discrimination

Were you there? If not, I hope you have benefited from the efforts of those who sought equality.

I am a man and a pretty good mechanic. I would not have been offended by the advice if it was offered to me.

And 100+ on the not going alone to see the bike piece of advice. It is not safe for a man or a woman, to answer a CL's ad without a buddy coming along. Too many creeps out there.

As to your question, yes I would spend the $20 on the bike and then apply some elbow grease getting the bike to be "more" ride ready.

Good luck and ride safely.

And you didn't know what a "BB" was?

I wouldn't have took offense if the advice wasn't started with "as a woman" you know? You'll never see some one write "as a man you shouldn't...." If you understand what I mean

Sorry but at the co op we don't go around talking to each other in abbreviations lol " so you need to fix the bee bee on yours..."