If you're dead set on fixing it and riding it, it's certainly a doable thing. The frame is relatively strong, as is the fork, and the steel is a relatively workable variety if you need to straighten using the frame/fork arm. You'll want to straighten the fork, clean and re-pack all bearings. Replace items with badly worn bearings or races. I guess you could sand and do a rattle can refinish if you really wanted to as well. I love old Schwinn utility bikes. The New World is a personal favorite of mine. Just be aware you've got a fair bit of work ahead of you. Nice find anyway.
Last edited by SirMike1983; 05-16-23 at 08:21 PM.