http://losangeles.craigslist.org/lac/cto/5581739859.html This might be a good project with lots of potential.
I spotted another (similar project) on CL. The seller is asking $11,500. It doesn't look any better than this one.
I think it's a fair starting price. It's hard to say how negotiable the seller may be. The car lots of potential.
Pretty nice if it just need rockers and lower fender work, glass looks good. The wheels sort of look like '71-'72 Olds Delta 88 Polycast but they had 8 holes. Those look like one of the aftermarket versions sold earlier by the same company that made the Olds wheels. If those were good Olds wheels they could pay for a few parts.
Methinks those are just the late 70's early 80's Malibu steel wheels. http://www.originalwheels.com/chevrolet-wheels/malibu1978rims.php