Hey Sean!
There is a release pin lever in the lock housing that releases when you insert the key and turn to position '1'. The pin lever is in the cylinder housing that holds the key cylinder. Perhaps it needs lube but it's inside the housing itself.
The lever presses and releases the pin that locks the steering wheel. The housing is held on with shear bolts I had to grind off. The housing is a dealer item around $130 with BMWCCA discount.
If nothing else works for you, I have a spare column on my parts car I can send you for shipping cost off a 95 ti. You just remove your ignition cylinder with a bobby pin and transfer it to the replacement column. You'll need replacement Shear or Allen bolts.
Prolly cheaper to find a column local, (and off a 94 E36 sedan to get a height adjustable one). But if you can't find one, PM me and I'll remove and send you this one. Ring me if have a ?.
Good luck my man!
Rich
