40’s Schwinn DX klunker Build?

So very out of my comfort zone here but I have this frame and need some direction as to my next steps. Headset seized, bottom bracket seized paint looks rough to the very least. What should I do to start cleaning off the rust? I hear linseed oil perhaps to coax out any remnants of the original paint? Need help on this one.
 
Whatever you do, keep the paint! Those stencils are awesome. Gentle gentle gentle...
000 steel wool, or a synthetic alternate, and wd 40, or any grease and rust cutting cleaner. Then soap and water, then boiled linseed oil. It's oxygenated, actually revitalizes the paint and seals in everything. You just rub the oil on and wipe off any excess. Be super careful with the rags, they vent explosive gases, worth reading through safety protocols. I've brought back a 57 CCM using this procedure, but it might not have been as far as yours. The results will still be stunning, Schwinn paint was really hearty, and linseed oil makes rust sparkle. Seriously though, DX is one of the best Schwinn frames, that's an awesome survivor.
Before IMG_20221012_204227.jpg
After IMG_20221126_113632029.jpg

Don't ask me for help with motivation or progress, that build has been on hold for a long time. Imlach will be along shortly to tell you how badly I've hurt his feelings with this one
 
Lots of gentle scubbing and elbow grease. Once you're happy clear coate it to death :) bearings etc are easy once apart, clean replace and regrease the faces. Looking forward to seeing this emerge
 
It's a skiptooth chain, so you'd need to keep the drivetrain intact, as they're not interchangeable with a modern chain. Man, that's a nice one too though, it's made by CWC (Chicago Welding Company), their stays are instantly recognisable. Unfortunately, ladies bikes intrinsically have less value, most collectors are male, and want to recapture their youths.
 
Yes but do you think the wheels headset and stem work? I guess I need to determine my end goal with this frame🤔 My initial thoughts are to recreate a Re pack type klunker. Other option is rat rod style cruiser either way a skip tooth drive train would be preferred. The Hiawatha looks to me to be painted likely quick spray can job years ago.
 
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