If you are planning to bring it back to life, then that's too much money in my opinion considering the $$ it will need.
For parts and a clear titled frame, maybe.
I don't doubt the mileage for a second, as these bikes were often used for Currier duty and logged mega miles.
That being said it will be needing some love I suspect which could be in the form of another, lower mile motor.
How much of a fixer upper are you after? What's your time worth?
I picked up 2 CX's in NC for $200...