That looks like a Chevy 305, not the Olds 307. I thought all wagons were 307s in that era. I'd love to have that with the Chevy motor in it!
"Station wagons built after approximately November 1, 1985 came equipped with the Oldsmobile-built 307 cu in engine. After this point, the 305 cu in was no longer available in station wagons." https://en.wikipedia.org/wiki/Chevrolet_Caprice#1986–1990