Well considering the chaingaurd and the rack, I think this is a 1960 -1962 Eldorado. IT looks pretty rough from the hpotos. It would make a nice rider cleaned up or you can part it out or customize it. If you want to save the original chrome, I recommend an S.O.S. pad and water. But some back into it and they should clean up half way decent.
Now for value, I wouldn't pay anymore than $20 - $25 for it. Since this is a ladies frame bike, it's like a 4dr classic car, nice lines, but not worth as much money, plus the condition.