Ok, if it hit the fork crown, then it's set for 700c, whereas it seems your Technium is for 27". There's only 8mm of difference between the two, but, tires also tend to be smaller overall in 700c's than 27's do.
Honestly, I wouldn't use it as a commuter. Period. But, if it's what you feel you must do, then you're gonna wanna see how wide of tires you can do, which is probably only 700x25, it being a racing frame. Some people have no problems riding on tires like that for commuting, but, it can be a little risky, cause they're low-volume/high-pressure.
Well, the front wheel probably just needs rim tape and as you said, tires and tubes, that is unless it's a tubular (glue-on, sew-up), in which case you need the tires, which can be expensive sometimes.
You can pick up nice grip tape for $10-$20.
Seat, you may wanna check your LBS for one that's not too expensive but fits well.
Clean up is free, for the most part. Just check all the threads and grease them so they don't seize.
If you're competent with bikes, most of the adjustments can be done by yourself, although, now that I'm thinking about it, you probably should replace the cables. New cables of good quality usually run about $20. And if you're not comfortable doing those yourself, check with your LBS as to how much that will cost. Also check to see if the hubs and freewheel spin smooth, if so, you should be good, but, it wouldn't hurt somewhere down the road to repack/regrease them.
Honestly though, tires and tubes (if needed) will be the most expensive part.
That's what I have to add.
Specs on the bike would help alot, along with pictures, just so you know.
That's what I have to add.
-Gene-