What ever your future plans are you can remove the tie rod nut and use one of the Autozone or other places rental tool to see if you can pop off the tie rod. Get into the boot and apply some grease. You are going to need something to remove the tie rod ends anyway. Might as well see if the free one is up to the job.
Replacing the various rod ends can result in you needing an front end alignment.
In the pic places like Autozone have the 2 shiny ones on the bottom. The small one is one for tie rods the larger is a pitman arm (steering box) puller.
HF stands for Harbor Freight in the pictures. The HF pitman arm press is brittle and I found some cracked in the packages hanging for sale so beware and don't expect much from it.
The upper left is a Harbor Freight tie rod puller. It has worked so far but I have not used it much. I tend to use the other ones.
To remove the Ball Joint from the control arm the one marked Mercedes is the real one for that job. The smaller OTC one is acutlly a pitman arm puller but is a good cheap alternative to the real Mercedes one or the copies of the Mercedes ones.
Lower Ball Joint Separator for a W123, OTC Pitman Arm tool
http://www.peachparts.com/shopforum/diesel-discussion/323469-lower-ball-joint-separator-w123.html
Note the smaller OTC pitman arm puller works for the control arm ball joint. I also bought the larger one but have not used it for anything.
Note that you can find used Snap-on versions of the OTC Pitman Arm Pullers on ebay.
The OTC pitman arm puller may or may not work on tie rod ends. It would depend on how wide the arm is that the ball joint goes through.
You can also buy a needle that has a grease zerk on it to stick through the boot an grease the joint. Put silicon sealant over the puncture area.