As already stated, the age of the car calls into question many of the rubber parts.

While pressing lightly on the brake stops the noise, I'd not assume the brake hardware is at fault. The little of lagging from the brake could compress a bushing that has failed, masking the problem.

This is really one of those decision points you need to make on an older car.

Rubber deteriorates whether it is driven or not. At this point, if your in for a pence you might as well be in for a pound.

A full rebuild is not out of the question and one can make an economic argument to just replace all the rubber (And the lower ball joint).

The rewards are that you are not still chasing a noise, the car will steer and handle like new, and you're not doing or paying for a lot of duplicate labor.

I've done the complete refresh several times and have yet to disappointed....

Jim

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14 E250 BlueTEC black. 45k miles
95 E320 Cabriolet Emerald green 66k miles
94 E320 Cabriolet Emerald green 152k miles
85 300TD 4 spd man, euro bumpers and lights, 15" Pentas dark blue 274k miles