Even if the machine doesn't need repairs (why was it taken apart ?) I'd add $2000 for 5-7.5hp single phase motor, magnetic starter, jack shaft, motor stand, belting, transport, and solid foundation.
If it were mine I'd also get the crusty paint off , repaint, redo sloppy bearings, get a fresh spring from Sid ( he had some for that specific make/model) and fix what ever the old owner bunged up.
I imagine that would be a great hammer with a rebuild, I would just try to get it as cheap as possible.