The "Ideal" Model, was a fancy grade Old Town made to compete in the Charles River (Boston) market. It has old Honduran ("genuine") mahogany trim (seats, rails, thwarts and decks), western red cedar planking, and northern white cedar ribs. This is one of the few Old Town models with non-tapered ribs - like the Charles River canoes. Old Town made fewer of this model than others, so they are kind of hard to find. This is an older Old Town and they have desirable wide WRC planking. It also has half ribs in the bottom.
This one does need some work. One mahogany deck is broken and those usually require steam bending to do it right. If it is a 17 footer, it is likely missing the center thwart. The seats and thwarts were originally bolted to the inwale with steel carriage bolts. The heads of the bolts were recessed and plugged with a mahogany plug. The fine mahogany inwales usually get buggared up some when people try to remove seats and things. This canoe looks like it would likely make a good project and that is a good price. These fancy Old Towns dress up really, really nicely. I have a 1914, 16 foot Ideal, and I find it is a fast little boat and a joy to paddle.