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The E84 (up to 2015) and F48 (2015-2022) X1s have much of the same DNA, I think both of them are good cars. Personally I chose an E84 for price reasons and because I liked the E84 body style more, but I must admit that the F48 will have better tech (ie: cell phone interface) and better reliability due to the B48 engine.
$7.5k for a 2.8i at 120k is at or just above KBB value, so I don't think it's that amazing of a deal. A new set of tires, major engine maintenance, and second brake overhaul often pop up between 120-150k, and quickly diminish the savings of an older car.
Obviously your finances can dictate what you get, but personally I might opt to spend a few more thousand on something in the 60-80k mile range and not have to worry about four-digit shop bills for a while.
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