The car is 1985 but it hass less than 140k on it. However the car was sitting for many years and even the axles has a bit of rust on them. It doesn't seem like was where the noise was coming from though.
So where does the noise seem to be coming from?
rear? front? center? Or is it hard to tell? Have a passenger ride in the back, on one side, then the other, & the two of you determine where it's coming from.
From the fact the car has been *sitting for many years*, I'd *highly suspect*
the big end LTA bushings on the diff hsg brackets,especially on a 1985 240 if they've never, ever been replaced. Worn out/rotted LTA bushings will cause , hard to determine N/V/H You'll need to drop both of the rear lower trailing arms *to inspect them*
Also inspect the Center DS support bearing ,& it's rubber and maybe the u joints.
Make sure the two DS halves are properly aligned too ( -> <- marks on DS must align where the two slide together)
How are the motor mounts &trans mount? Is oil pan sitting on the front cross member? Is it very difficult or impossible to remove the oil filter(sure signs of shot MMs)
Notice any extreme engine movement with brakes on and while letting clutch out or auto trans in gear and apply throttle?
I have replaced rear axle brgs on my 79 245 @ 220,000 miles, and they were making noise transmitted through the chassis. And I plan to do the 91 240's soon at 202,000.
Cheaper/easier to replace them early, than to wait until they ruin the axles.IMHO.