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Not many people repair the M116 4.2L V-8 if they let the chain break. Rebuilding and parts costs are far too high. Unless very little damage was done, you're probably looking at a very big bill.
If you want a really inexpensive (relatively) solution, shop for a used engine. This is risky, as the engine's history may be questionable.
The next alternative is a rebuilt "crate" motor. This is probably the most common way to solve the problem. MB sells engines that are rebuilt, but so do others. Metric is just one that advertises in the Star. I have no expertise in these services, but a search will probably bring back lots of threads.
You might be able to buy a "new" engine from MB. This is going to be the most expensive route, if available. Not many go this direction given the low value of the rolling 420SEL chassis.
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