Failure of these parts are quite common for W201, W124 and even for W210
This is a the driver side of an 1997 E50:
In case there is no or not much structural rust at that W201 the repair shouldn't be very expensive. The part (upper spring mount) is available at the dealer and costs Euro 35 in Germany.
Every good bodyshop should be able to replace this part and give the car another live.
bis denn,
Christian
1989 300TE
1984 2.3-16