Any bike that came with chromed steel wheels was probably entry level at the time it was made. I agree with the many suggestions you try to find a set of 27" used wheels. That way the reach on the brakes will match up with the rim. It doesn't look like finding a set locally would be much of a problem.
Here is one from Arlington Heights for $15
https://chicago.craigslist.org/nwc/b...542549818.html It's worth calling the owner. That's a lot closer than Milwaukee.
I would disassemble the axle set and clean and re-grease the bearings.