Impala: youll have to define “worth it”. Classic car restoration is a hobby for many but a business for only a few.  Unless you are a Gas Monkey or Chip Foose kind of business that has a certain level of cache, restoring a car will usually cost more than you can sell it for (unless you were gifted a particularly desirable car to start with; I’m afraid your car has 2 too many doors to get top $).  Personally, I think it would be cool to fix it up the way you want it, for your own enjoyment.  But if you are looking for a profit, sell it now.

Town Car: different kind of restoration. I’m ambivalent, but probably agree with @mmj unless you can fix what needs fixing pretty easily. 

Welcome first time poster!

if you're really into it and want to do it then go nuts. I wouldn't put much money into the Lincoln. Luxury cars cost too much to maintain (especially that old) and they're pigs on gas.

The Impala sounds like a great project and passion project car. Personally, I would love to have a project car like an old Impala, if I had the extra coin and to spend. 

As for the Town Car, it really depends on the condition and how much you want to put into it. If it is in good working condition, it was well maintained. and there is no rust, maybe yes as a daily driver. And that is a big maybe.

But if costs too much to fix, and is far too gone from being salvageable, no

The Impala 4-door is more worth restoring than the Lincoln, depending on how far you want to take it. It's not a coupe, so that reduces its value. It's still a 56 year old car that you rarely see, so it has some value. If you're looking to keep it 100% authentic as far as period GM parts and such, forget about restoring it. If you want to take the financial loss as a hobby, that's fine, but don't expect to turn a profit.

I would do what I'm doing with my '79 Catalina with that car. It's also a sedan and not a wagon or coupe, both of which are a lot more valuable. As a collector's car, my car's not valuable. It was the last model Catalina they sold before Pontiac retired the nameplate, it wasn't desirable at the time, and even today, pre-77s are most collectible. My car is basically a badge engineered Chevy Caprice with a Pontiac V8.

The headliner had fallen down, brakes were absolutely shot, the shocks were original, sway bar links were broken, idler arm was worn, speedometer head was broken, the rear main seal recently went out... My girlfriend and I replaced the headliner with fleece from Joann's that closely matched the color of the interior for $40, I replaced the shocks with a full set of KYBs for $100, had the speedometer professionally repaired for $550, and just finished putting $625 into the rear main by a shop. Everything else I've done myself. Do enough to make it functional and safe to drive, don't go overboard. Use it to learn. It's cool to have, but don't drown in debt over it.