That is one of the old originals on a Schwinn frame they are Really Cool. Very hard to find in that condition. They currently make a new Taiwanese made knock-off that run a little over a grand and have to be registered as a Motorcycle due to the 120cc engine. They even have a vin number and title when you buy them.
That is nice, but the engine is the first generation of the new repops- 1998 WC-1.
The first year repops had the cylinder head bolts go through the head and into the crankcase. The original and the 1999 to current didn't have this arrangement.
Dang nice ride!!!