Central Illinois Bank parent reports first annual profit in 7 years

CHAMPAIGN – Central Illinois Bank's parent company reported its first annual profit in seven years this week.

But the profit came largely as the result of a one-time gain related to the extinguishment of debt. The parent company, Wisconsin-based CIB Marine Bancshares, reported net income of $13.7 million for 2009, thanks to a $54.5 million gain related to completion of a prepackaged plan of reorganization. The last year CIB Marine reported an annual profit was in 2002.

Law on nutritional supplements helps Champaign firm grow

CHAMPAIGN – Looking for a business resistant to recession?

Charlie Li thinks he has one.

Li's company, American Analytical Chemical Laboratories, does independent testing of nutritional supplements and other substances.

Six years ago, the company had 13 full-time employees and two part-timers. Today it has 20 full-time employees and three part-timers.

It's Your Business: The Great Frame Up to hang it up next month

The Great Frame Up, the custom framing, print, poster and framed-art shop in Champaign, is closing.

Jim Wisniewski, who owns the business with his wife, Carol Wisniewski, attributed the closing to the economy. Business has slowly declined over the last six months, he said.

The store opened at 2141 S. Neil St. in the Shoppes of Knollwood in 2003.

Search for UI Research Park phase developer down to two

Two companies have been named finalists to develop the next phase of the University of Illinois Research Park, and both firms will make presentations on campus Monday.

The UI Research Park Board of Managers, a group appointed to oversee the south campus development, will meet at 11 a.m. Monday at the I Hotel and Conference Center in Champaign to hear presentations from current research park developer Fox/Atkins of Champaign and Atlanta, Ga.-based real estate firm Carter.

Expansion frees up room for American Eagle work

SAVOY – Flightstar Corp. has made an 8,000-square-foot addition to its complex at Willard Airport to help accommodate the servicing of American Eagle aircraft.

Each night, the company's airline division provides maintenance and cleaning services for five American Eagle regional jets – three from Chicago, one from Dallas and one from Milwaukee.

All but the Milwaukee jet bring passengers to and from Willard; the Milwaukee jet comes strictly for maintenance.

UI owns empty space but pays $4 million to rent others

URBANA – A string of commercial spaces on the first floor of a University of Illinois parking deck sit empty, almost six years after the $26 million garage was built.

Meanwhile, three blocks away, a university unit is paying more than $250,000 a year to rent offices in a privately owned building developed by a firm whose board of directors includes a UI Foundation executive who was also once a UI vice president.

UI grads' beers going on sale at two local businesses

Beer lovers may sample two new year-round beers produced by University of Illinois graduates at Champaign-Urbana businesses Wednesday.

Two Brothers Brewing Co. of Warrenville – founded by Jim and Jason Ebel – will introduce its new brews at Black Dog Smoke & Ale House in Urbana and The Blind Pig Co. in Champaign.

Starting at 6 p.m., Black Dog, 201 N. Broadway Ave., U, will feature the new Long Haul Session Ale along with a special menu and its regular menu.

Danville's policy: Take action earlier on unused buildings

DANVILLE – In the last 10 years, the city has spent more than $3 million tearing down hundreds of dilapidated residential and commercial buildings.

Most were vacant and neglected by their property owners, and the burden of paying to demolish eventually fell to the city and its taxpayers.

Tired of the blight, other problems associated with vacant buildings and spending limited resources on demolitions, city officials decided to take a more proactive approach to the problem.

Prom event provides taste of past while assisting food bank

URBANA – You don't have to be a student to create prom memories is the idea behind a fundraiser for the Eastern Illinois Foodbank sponsored by Paramount Staffing.

The "Prom Benefit for Hunger Relief," in its second year, is set for 7 p.m. to midnight March 27 at Kennedy's at Stone Creek Banquet Center, 2600 Stone Creek Blvd., U.

Lorianne Bauer, branch manager for Paramount, has set the goal higher this year with good reason.

School that helps with medical exams moves to new facility

Editor's note: This story was re-edited in June 2014 to remove erroneous information.

CHAMPAIGN – Shhh! Medical students are studying for their license.

And they're doing it smack-dab in the middle of the commercial district between Market Place Mall and North Prospect Avenue.