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@Cajeta
it's hard to see from the pictures, but the top of the seatstays look a bit more like the older carltons (later ones seem more frequently to be more elongated, or wraparound). there's a pretty good chance it's pre-raleigh buyout.
in any case, it's a pretty bike, with some nice original bits; looks like a nice milremo stem, lovely crankset... it'd be a shame not to restore it to it's original geared glory, rack and all. especially when it just doesn't seem the best candidate for conversion. sure, it's do-able, but i'm guessing that if you wnat a fixed wheel, you'll be happier with something a little more sprightly.
my 2 cents: keep this one, fix it up, and find something else to "fix"