Thank you for the suggestions everyone. I will have the freon level checked. I don't think the previous owner attended to the A/C for a while since I don't find any records on it.
Pardon my ignorance, but where is the condensor located? And what does the frase (~52* with the red switch on receiver/dryer) mean? I am not sure what switch we are talking about and where that receiver/dryer is.
The car is 1990.