The Atlas lathes, also sold by Sears under Craftsman name (not to be confused with very small 6" Craftsman lathes that were junk), were pretty low end lathes. This is not to say that an Atlas lathe in good condition can not do good work, I'm just saying they were an economy lathe ... for instance, you'll note that the ways on the bed are perfectly flat, not "V" style as on South Bends, Logans, or Sheldons (which are all better homeowner lathes).
Considering the condition of this lathe as shown in Shadowdog500's photo and the seller's term that the lathe is " a little loose" (read badly worn!!) and I think you should pass on this machine. Typically, "looseness" can not be adjusted out of a low-end lathe. The pile of junk in the photo is NOT worth $100. Don't spend your money on a junk machine tool ... you will experience no end of frustration. Save your $100, add a few more $$ to it, and buy something decent.
NC Fabricator25 is right on regarding the availability of older machine tools in the PA-OH-MI area ... there are LOTS of old machines available in the Cleveland-Akron-Youngstown-Pittsburgh region if you take some time and look around. You will probably have to spend more than $100, but you should be able to find a small, older lathe that is complete, not worn out, and not a rust bucket, for around $250-800.
Study the
http://www.mermac.com/advicenew.html site so that you will be able to evaluate and identify a good lathe when you find it.