For that money id be looking into an E36 328i Sport, had mine for three years before the Z, although mine wasnt a cheap runaround
Heres some pictures of it, absolutely delightful to own and drive, a real connecting driver/car to road experience once i got it to my spec.
Engine:
M50 manifold and big bore throttle bodies upgrade
Pipercross panel filter
Custom E-maps remap
BMW high power spark plugs (used on the E46 330 but a good upgrade for the E36s)
Transmission/Suspension:
Z3 5 speed short shift kit
Bilstein shocks with Eibach pro springs
E46 M3 convertible rear top mounts with Z3 reinforcement plates
Polybush lower arm and front anti roll bar bushes
E30 front lower arms
Heavy duty Meyle complete track rods
Brakes:
Two new front calipers
EBC yellowstuff pads front and rear
Goodridge braided brake lines
New front and rear discs
New handbrake shoes
Interior:
Retrimmed perforated leather steering wheel (double padded for extra comfort)
18 button on board computer
Dual zone climate control
Exterior:
Genuine AC Schnitzer carbon fibre rear diffuser (you wont see another E36 with this on, if you know what they are youll know how rare they are)
Genuine AC Schnitzer three piece 'ducktail' boot spoiler (again these are stupidly rare and ive only ever seen one other E36 in this country with one on)
Custom carbon fibre front splitter
Genuine AC Schnitzer type 2 mirrors(again extremely sought after, heated and electric)
Individual Avus blue paintwork (was a special order colour for non M3s)
New windscreen has been put in last year due to a chip
All the exterior rubbers have been changed last year (front windscreen, side windows and rear window also had a new scuttle panel trim)
Brand new set of body mouldings aswell
Wheels:
BBS RC041/042 with mirror polished lips and centre caps with the centres and bolts finished in Aston Martin Lightening silver, these wheels set the car off in conjuction with the body styling making it a very unique E36 i havent seen another like it. Tyres are Falken FK452 all round in 225/45/17 front and 245/40/17 rear