'Lil identification help?

I'd grab that bike, for sure. Doesn't matter what it is, but Schwinn also had a frame like that, as I recall. The DX was shaped like that. I imagine you can recoup most of your money from selling the skip tooth chain and sprocket and the kid seat on ebay. That's a nice bike, early fifties at the newest(some companies switched to the newer sprockets before the war and others not long after. Schwinn was kind of late with that... 1950 or 51, something like that.
Grab that bike. It's a winner!
SB

Like I said, whatever it is, it's a nice bike and from a time when American made bikes were build to last. I wouldn't quibble about that price, but agree right up front to pay it. It is worth more than twice that. It will make a much better motorbike than your Collegiate. Yes, good luck!
SB

That's and awesome looking bike!

When ya get it, look for numbers on the bottom. Some times ya get lucky.

The child's seat is aftermarket, so doesn't help in identifying it. The seat looks newer to me, too, more like 1960's. As Dan said, the serial numbers may help. If it is Schwinn, then they will probably be on the bottom bracket underneath. The other common place to look is on the dropout. Some companies, like Monarch didn't even stamp them into the frame, but used a plate riveted to the bottom bracket... which usually is missing.
SB

Oh cool SB. I didn't know about them some times being stamped on the drop out, thanks!

Now I'm wondering if I failed to identify some of my old bikes.

Don't really matter. Carol confiscates the really cool old ones any way. "Thats to pretty to put a motor on"
LOL. drives me nutz. I need an off property shop!

that thig is cool looking i would buy it for $50 if i had to buy it for $60. child seat is kinda cool to. cut the back off and put a nice size gas tank back there.

Wohoo! Score. That really is gonna make an awesome MB

I really enjoy these kinds of threads. Kinda like watching friend's kids grow up.

Ya get to see the pics and don't have to do any of the work, snicker.

I don't see any reason you can't use the skip tooth sprocket and chain. The chains are hard to come by is all... they aren't made anymore and can be very expensive. New Departure made good coaster brakes. It would be good to check to see if they need grease... careful opening things up.
You may have engine/pedal clearance problems which may require either bending the pedal arms or using a wider crank. A crank from a more recent oriental bike is a little bit wider than the old Schwinns at least and probably the one you have, too. You won't know for sure until you mount the engine and see what's up. That's a nice peaked fender. Yes, the holes would have been for a headlight, probably something torpedo like. Did you look underneath the bottom bracket for serial numbers? Nice that the dropouts have adjusters. You may be able to skip having a chain tensioner. Wouldn't that be nice! You got a very good deal. i don't know about using the rear wheel you have. Something with stout spokes would be good. If you could use a clamshell adapter for the rear sprocket mount then the narrower and old spokes would probably be OK. But I would not do a rag joint against them, I don't think. I can't remember if the New Departure hub is ribbed or if it has a grease or oil fitting on it which would get in the way of a clamshell adapter. You might do as well selling the rear wheel, chain and pedal assembly on ebay. If they are in good shape as it sounds like, then you will go a good ways toward paying for new heavy duty stuff more suitable for a motorbike. My opinion anyway.
SB

Was looking at yer pics again and got to wondering if you could still find "Torpedo" lights and found this; bicycle light+torpedo - Google Search

They just look sharp as a razor.

I am considering one and replace the guts with a solar yard spot light/LED