AIRE will host a program “Building Specs 101,” a program designed to help the audience competently assist users and owners in assessing the value and functionality of property.  Expert panelists will share the most salient facts about sprinkler systems, environmental conditions, electric/lighting and flooring/paving. The panel may discuss issues and topics such as new products and technologies, how to identify in-place conditions, the general cost of upgrades and what to look for on a first tour including “red flag” issues.

Brian Gedvilas, Value Industrial Properties, will moderate the panel discussion which will include Ben Warriner, Morgan/Harbour Construction; Joe Pomerenke, Arco Murray National Construction Co. Inc.; Terry Stenson, Wigdahl Electric Co.; and Dave Eglsaer, United States Alliance Fire Protection Co.

Members and guests may register for the luncheon on line at www.aire-brokers.org or by contacting Association of Industrial Real Estate Brokers at 630-510-4554.

The facilities are located in the heart of Chicago’s North Shore at 1660 and 1700 Old Deerfield Road in Highland Park. The property served as the company’s headquarters and as a manufacturing facility before it relocated its headquarters to Lake Forest. The ±28 acre parcel is improved with: a ±245,000-square-foot manufacturing building that includes ±26,900 square feet of office; and a ±64,500 square-foot office building with ±23,000 square feet of warehouse.

Highland Park is a lakefront community on the North Shore of Chicago. The area boasts more than 850 businesses and more than 30,000 residents. The area features access to Chicago’s major expressways, the Illinois Tollway and O’Hare Airport.

The property will be sold in a sealed bid convertible to an open outcry auction format. The sealed bid deadline is March 6 at 4 p.m. CT. The owner will have the option to convert the offering to an open outcry auction after receipt of the bids. An initial earnest money deposit of five percent of the total purchase price is required in order to participate.

Property inspections will be held by appointment only. CBRE representatives will be available to answer questions about the auction process and procedures, as well as the property. Detailed property information will also be available for review including the purchase and sale agreement, tax information and other applicable information.

Prairie Creek Terminal Services, a wholesale fertilizer company, has purchased the 9 acres for trans loading their product from barge to rail. The company custom blends fertilizer and ice melt products for resellers and National Account Chains in all types of landscaping, horticultural, ornamental, golf course and garden trades. The buyer chose the land parcel due to the easy accessibility of the railroad and barge in this area of Will County.

Gerald Sullivan, principal; Edward Wabick, principal; and Brandon Wright, associate of Paine/Wetzel/TCN Worldwide represented the seller, Sims Metal Management. Gene Briscoe of Coldwell Banker Commercial, NRT, worked on behalf of the buyer.

Built in the 1960s, the facility is located at the southeast corner of Lunt Avenue and Nicholas Boulevard with direct access to Interstate 90 in the heart of the O’Hare submarket. It is currently leased to stationery company House of Doolittle and trucking firm CR Express.

Bridge plans to redevelop the property into a state-of-the-art air cargo building with 32-foot clear ceiling heights and 35 docks. Construction is currently scheduled for spring 2013.

“As the Chicago industrial market continues to stabilize, we are confident that the O’Hare submarket will be one of the first to see new construction.  We are excited to have a position in this infill submarket for future development,” said Tony Pricco, principal with Bridge.

David Bercu, Thomas Rodeno and Patrick Turner of Colliers International represented Welsh in the sale and will continue as exclusive leasing agents for Bridge.

In Caulfield’s new role, his scope of responsibilities will expand to include oversight of Arbor’s $5.8-billion multi-family loan servicing portfolio as well as a heightened level of business collaboration and engagement with Arbor’s valued business partner, Fannie Mae. Arbor is the sixth-ranked Fannie Mae DUS® Multi-family lender, as measured by total origination volume.

In addition to his new responsibilities, Caulfield will continue to oversee Arbor’s sales origination, capital markets and underwriting departments as well as all aspects of the company’s loan process, from screening to closing. He is also responsible for managing the company’s trading and investment banking partnerships.

During his more than two decades with Arbor, Caulfield has helped Arbor rapidly climb the ranks of the Top 10 Fannie Mae DUS® Multi-family lenders, ascending from 10th to sixth within the past four years alone. He has also played a critical role in recently expanding Arbor’s Bridge Loan and FHA lending business.

In addition to six leases, this marks the fourth acquisition Podolsky has completed for Lake Cable and its subsidiaries since he began representing the firm in 2003.

With this purchase, Lake Cable now owns 180,000 square feet and leases an additional 90,000 square feet in Elkhart and Valparaiso, apart from the 100,000 square feet at their corporate headquarters in Bensenville. They plan to use the newly purchased space to expand their manufacturing operations in Northern Indiana.

David Jolivette of Jolivette & Templar P.C. provided legal representation to Lake Cable. Timothy Weaver of Barnes & Thornburg L.P. represented the seller, CopperCon Realty LLC.

According to statistics released by the government and compiled by SomerCor 504, an Illinois Certified Development Corporation, 412 loans totaling more than $275 million were approved for the fiscal year ended Sept. 30, 2011 allowing plenty of opportunity for small businesses to grow and expand their operations.

The SBA 504 loan program provides long-term, fixed rate, government-guaranteed loans for small businesses to finance the purchase, construction and renovation of commercial real estate, as well as the acquisition and installation of heavy machinery and equipment. It also provides refinancing programs for small business borrowers.

“If you are a solid-performing business with a well-conceived business plan, it is a great time to be a real estate buyer,” said David Frank, president SomerCor 504. “The SBA 504 program is creating opportunities for businesses to grow and expand their businesses without many of the restrictions of conventional financing programs.”

The $275 million in approved SBA 504 loans represented an increase of 14.86 percent from the same period one year ago when approved loans totaled just more than $240 million. The increase from 2010 levels was an even further increase in the value of approved loans when compared to 2009 when $229.1 million in loans were approved.

The number of deals completed in fiscal year 2011 was 412, which represented a decline of 5.7 percent. It still represents an increase from 2009 when 366 loans were approved in the State of Illinois.

Based on this volume and level of activity, the value of the average loan approved in fiscal year 2011 was $669,200, a 21.8 percent increase from 2010 when the average was $549,300. The 2009 average loan value was $626,030, an amount that is 6.9 percent lower than 2011.

According to Frank, a variety of factors contributed to an increase in 2011 activity because they made funds more attractive and readily available. Among the factors making the SBA 504 loan programs attractive included increasing the amount of the guaranteed loan that can be made by a Certified Development Company like SomerCor 504 increased to $5.5 million from $4.0 million and the net worth requirements of the borrowing company expanded to $15 million from $8.5 million. Additionally, for a period of time, until September 2012, new regulations are making it possible to use SBA 504 loans for refinancing purposes.

“The aggregate of these features and benefits made SBA 504 financing the best financing alternative in the market,” Frank said.

Commenting on expectations for 2012, Frank said he is optimistic that 2012 will be a better year than 2011. He noted that the refinancing component of the SBA lending program will end in September, giving businesses an opportunity to lock in interest rates for the long-term.

Twin Med LLC is a regional full-line medical supplies distributor to nursing homes throughout the West Coast. The firm first selected The Missner Group to build out their 29,796-square-foot space at 6358 Howard Street as its first Chicago location in 2008, and has recently hired The Missner Group to complete a build-out that will include a 10,000-square-foot expansion of the warehouse/distribution area. Twin Med LLC now leases 39,796 square feet at the Howard Industrial Center. Jess Knigge, vice president of The Missner Group, is leading the construction team as project manager and Gensburg Ltd. is providing the architectural services.

Twin Med, LLC was founded in 1998 by Steve and Shlomo Rechnitz as a small company serving a few nursing homes. Today the firm maintains strategically located warehouses around the country and can provide products to customers with one day lead time from these facilities. Twin Med LLC employs more than 350 people in Los Angeles; Indianapolis; Chicago; Garland, Texas; and Staten Island, New York.

Headquartered in Louisville, KY, Tobe Direct is a direct marketing firm.  Founded in 1988 by John Tobe, Tobe Direct provides one-to-one marketing techniques using variable data print technology. The company is relocating to the Territorial Drive building in Bolingbrook from its previous location in Woodridge and is nearly tripling in size with the move. Tobe Direct is beginning a phased occupancy immediately and should fully occupy the facility in April.

“Tobe Direct is currently undergoing significant growth and needed a new facility to accommodate that growth”, said Kohn said. “They ultimately chose the 605 Territorial building because it perfectly fit their needs for a printing facility, particularly because it is fully air conditioned.”

The building is a 182,400-square-foot warehouse facility constructed in 1998. It was purchased in early 2011 by KTR Capital Partners, who was represented by Terry Grapenthin of Cawley Chicago Real Estate.

Goldstein brings more than 10 years experience in commercial real estate development, sales, management and analysis to his new position. He also brings more than 17 years as consultant, expert witness and appraiser for the financial industry.

According to company president Dale Strauss, “Goldstein brings the type of depth and experience that is representative of Strauss Realty. We’re pleased that he has joined our team. ”

Strauss adds that as CBD analyst, Goldstein will focus on the Chicago Loop commercial properties for sale and purchase as well as redevelopment projects.

“Goldstein’s previous experience as a consultant and court-qualified expert in financial matters will be of considerable resource to our existing and new clients,” Strauss said.