Classy Old Commuter - First Build!

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Finally starting my build journal even though I've been working on this bike for more than two weeks.
Before starting this build all I knew about bikes was how to ride them well and adjust the seat.
Lets just say I'm learning a LOT.

The target: A 1973 5-speed Schwinn Collegiate I saved from a barn in the middle of nowhere for 60 bucks. Probably could have been patient and found a bike in better condition for cheeper, but I couldn't sit still. :b

The mission: Restore/customize it into a good functioning commuter but don't break the bank. Not so nice that I won't want to ride it, and not so nice that Detroit will want to steal it, but certainly with a heavy dose of retro-class. Sort of a tall order there.

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Just got home and took it off the rack. Poor thing's all wet from a huge storm that showed up an hour early.

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A brighter photo. It looks not too bad here, but the looks are deceiving. :b

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Back fender's rusted through and through! I know I want rideable but I don't want a rust-bucket! I have a set of Rahleigh fenders on the way I snagged for a good deal on ebay. They'll be shinier and a bit classier with that fluted look!

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The magic of Navel Jelly. The front wheel and break is now completely overhauled, I'll take photos tomorrow

Right now I've started the battle with the rear wheel. I'm not sure if I'll be able to true it, since I just used the fork and breaks for for the front wheel.
 
Oh forgot something!
bikemockup.png

My hopeful paintover for what the bike may look like. I want to leave the green frame and accent it with brown and cream. Can't paint the rims, unfortunately. Caliper breaks ruin everything. Might paint sidewalls instead?
But I did figure out the secrets (including where they got the bags) for these panners: http://www.etsy.com/listing/27017584/sw ... r-bag-pair. I'm going to save a bundle there.
 

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