medicman2805

Hello all, i just recently came across a schwinn 564 from i believe 1990? Its an aluminum frame road bike that is surprisingly light, and upon further inspection, i noticed that there is the schwinn paramount emblem on portions of the frame. I tried researching this bike and could find almost nothing. Is this a rare bike? Is it made in the paramount factory? What would you say it is worth? Also, the metal schwinn emblem on the front of the frame says "chicago" under the schwinn symbol. Any knowledge given is most appreciated. Thank you

pastorbobnlnh 

Welcome to C&V.

The 564 was not built by Paramount in Waterford, WI, but I believe was designed by them. They are not exceptionally rare, but for the most part, the orginal Schwinn Company was a steel frame bike builder. My guess is they outsourced the aluminum frames (but I'm not certain). The "Chicago" on the badge was a tip to where corporate HQ was located. By 1990 most of their bikes were built in Mississippi, or overseas, with the exception being Paramounts in Waterford.

Is it worth much? We like to say $2.50, but as you might imagine, we are inserting our tongues in our cheeks. It's worth what is paid for it and that can vary all over the place.

Best of luck and post us some pictures.

skyblue

1989 catalog page.

medicman2805

hey! thanks so much for your replies. Definitely helped a lot. I will post pictures as soon as i get my camera back. I'm really glad to finally have some information on this bike.

Rammer

Is it misleading to call a Schwinn 564 a Paramount? This week I have come across several 564 for sale. Did the aluminum frame expire after twenty years?

miamijim

Yes, because it doesnt fall into the Paramount line of bikes. There's a small decal on the seat tube that says something like "Paramount Design Group" and the catalog makes reference to the bike being designed by the Paramount designers but its not built in the Paramount plant.

The best analogy I can make is the Cadillac XLR. Its designed around the Corvette chassis, its built in the same plant but its NOT a Corvette.

Scooper

Yes, it is misleading to call the late eighties/early nineties "Aluminum" Schwinns Paramounts. They were designed by Paramount Design Group and built in Greenville, MS (note the comments in the Bicycling review at the top of THIS PAGE), but were never marketed by Schwinn as Paramounts.

The "Chicago" on the head badge doesn't mean the bike was made there, only that the company was headquartered there. The Chicago factory closed its doors for good in late 1983.

Rammer

Thanks. I agree, the aluminum 564 is not a Paramount, despite spec'd by PDG. Nonetheless, a lot are advertised as such: https://www.google.com/search?q=site%...+paramount+564

wrk101

+3 Not a Paramount. Not close.

I recently picked up a similar bike, a Schwinn 434. The only thing rare about the bike is the quill seat post.

sykerocker 

I've got a 564 that I was riding last season, set up with all Shimano 600 tri-color. Didn't care for the geometry, so I ended up tearing it back down. Nice light bike, seemed to do the job well. Value? Mine's got the usual paint chips and scratches, I'll be selling it at Westminster for $50.00, includes headset, bottom bracket and seatpost (very critical for those frames).