Like a Pin, it depends on how much work, time, skill you wish to put in.
Working, in this Condition, go for $800-$1200. Not working around $600 ish,
unless when you open it, you see parts missing. Each Part, Back Door, Lock, Cash Box, New Fingers etc cost, so look
at wear. Could be a jam, a broken spring or casting.
Restored to ones taste cosmetically is plus or minus. Some want a good original, other times you have no choice but to paint, and re chrome. So you are correct at restored value, but currently many good jobs are peaking below $1500.

Plenty of high top parts.
Make sure you have a working Jackpot. Look at casting wear around levers and stops.
If your budget goes to $1500 there are plenty of killer games art wise and feature wise...gumballs, mints, gold award to restore.

The handle does not look original from the other ones I have seen. I think a $2000 value for a working one of these is also way high of an estimate. In the condition it is in I would try offering like $150 for it maybe (does it come with the key?). It does look like a fun project but as mentioned by another poster if you plan to sink $1500 and a lot of hours into something there are probably much better slot and game options out there. Do let us know if you decide to go for it as it would be fun to follow a restoration thread on something like this.

I went to a casino once and put $10 in quarters in, when I took someone else that wanted to go. I just wanted to see the machine work. I was fascinated. However, I am not into a losing bet, which is what you do at a casino... You lose... Period... Anyway, having said all that, it would be fun to have a working slot machine at home to play with. I am kind of like xsvtoys above, in that I would want to take the machine all apart and see how it works and play with it after the repair. Kind of like a pinball machine... Fun to pull the lever and see what it does. The fascination ends there for me though.