You'd be wise to read the sticky on purchasing a W124-things to look for..

That type of mileage- you should plan on a valve job if there isn't evidence of it being done. Is there oil in the coolant or oil running down the back of the block?
I bet it needs a headgasket and valve job .. there's a better reason to park it than over a $100 leak.

If the motor was well taken careof- the lower ends last.
At that age and mileage- how oily is the transmission??
Radiators, water pumps, etc..
A/C problems etc..


Michael