CATERPILLAR INCENTIVE PROGRAM Q & A

Q: Who is eligible for the 3% incentive? 
A: Any buyer of a Caterpillar relocation program home in the Peoria area is eligible.

Q: Who is eligible for the buy out program?
A: Any home within a 20 mile radius of the Caterpillar downtown headquarters worth more than $95,000. Buyer must purchase a home with a value of  **35%** or more than their current home AND the purchased home must be at least ** $200,000 ** and a Caterpillar relocation program home. EXAMPLE: You live at 123 Main St, your home is worth $145,000. If you purchase a Caterpillar relocation program home that is $200,000 or more, Caterpillar will offer to purchase your current home PLUS give you $3,500 in moving costs PLUS 3% closing costs on the new home! WIN-WIN

Q: I am currently renting, is there any incentive for me?   
A: YES! If you purchase a Caterpillar relocation program home, you will receive a 3% incentive that could be used towards lease cancellation fees, closing costs, home improvements, etc. (Subject to lender approval).


Q: How do I know if an incentive is being offered?   
A: The incentive being offered will show up in the remarks area for any eligible listing.  Or just ask The Knell Group. See BELOW! 

Q: How is the 3% incentive determined?   
A: The 3% incentive is calculated based on the net sale price of the home

Q: How will the 3% incentive be applied to my purchase and how can it be used?    
A: The incentive being offered is first and foremost subject to your lender’s approval.  The 3% incentive could be used toward your closing costs (loan fees, inspections, appraisal fee, etc.), a credit could be used if you are planning to do repairs/renovations to the home or can even be used to buy down your interest rate.  Your Realtor and Lender will help determine the best way to maximize the incentive.


Q: Why is Caterpillar offering a home incentive program like this? 
A.  Caterpillar is a major player in the Peoria-area job market, and they recognize the impact that both their long downturn and this relocation may have on the local real estate market. The incentivized program is similar to programs offered at other companies that have reestablished global headquarters. CAT’s intention with this program is to minimize the impact to the Peoria Real Estate Market by keeping the integrity of home values.


Q: Does the home have to be related to the headquarters move? 
A: No, any Caterpillar relocation program home in the Peoria area is eligible for the incentive. This may include homes from employees relocating for other jobs within the company.

Q: How many Caterpillar homes do you expect to be added to the market as a result of this headquarters relocation? 
A: We cannot predict how many homes will go onto the market as a result of the headquarters move. It is important to note that some relocating employees may elect not to sell their home, choose to rent out their home, or utilize opportunities that best fit any number of personal situations. Additionally, not all homes will be coming onto the market at once. The transition to the new headquarters started in May 2017 and continue through mid-2018.

Q: What if I have more questions about the program?
A: Interested buyers are encouraged to contact THE KNELL GROUP of Coldwell Banker | The Real Estate Group.



CURRENT LIST OF HOMES OFFERING INCENTIVES

Please keep in mind that not ALL buyer incentives being offered are part of the Caterpillar Relocation Program.  Some independent sellers are also offering buyer incentives.  Please check with your Realtor for additional details.

Home Purchase Program Qualified (Listed by Price):   

7106 N TEAKWOOD Court

Peoria, Illinois

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5515 N LEAWOOD Court

Peoria, Illinois

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1012 W DEERBROOK Drive

Peoria, Illinois

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424 W NORTHPOINT Lane

Peoria, Illinois

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104 AVENUE NOTRE DAME

East Peoria, Illinois

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15420 N RIVER BEACH Drive

Chillicothe, Illinois

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1116 W BROOKFOREST Drive

Peoria, Illinois

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3723 N BIGELOW Street

Peoria, Illinois

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4629 S KING ARTHUR Court

Mapleton, Illinois

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749 W BROOKFOREST Drive

Peoria, Illinois

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7007 N White Fir Drive

Peoria, Illinois

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497 TAZEWOOD Road

Metamora, Illinois

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115 MIROMAR Lane

Washington, Illinois

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7220 N WESCOTT Court

Peoria, Illinois

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10 HUNTERS WAY

Washington, Illinois

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11333 N SYCAMORE CREEK

Dunlap, Illinois

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509 W GREENWAY Place

Peoria, Illinois

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132 STAR RIM

East Peoria, Illinois

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11 WOODFORD Way

Metamora, Illinois

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735 W TOWNES Court

Peoria, Illinois

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12701 GEORGETOWNE Road

Dunlap, Illinois

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10419 N HARVEST Court

Peoria, Illinois

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7512 N EDGEWILD Drive

Peoria, Illinois

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1396 CEDAR CREEK Drive

Metamora, Illinois

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6640 N KRAMM Road

Brimfield, Illinois

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9842 N THOUSAND OAKS Court

Peoria, Illinois

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4702 N GRANDVIEW Drive

Peoria Heights, Illinois

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 Homes Offering Incentives: (Listed by Price)    

2925 N VILLAGE Drive

Peoria, Illinois

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621 W FLORENCE

Peoria, Illinois

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5125 W ARROWOOD Place

Peoria, Illinois

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3306 N KNOTT Lane

Peoria, Illinois

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123 S CHESTNUT Street

Tremont, Illinois

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600 LINCOLN

Washington, Illinois

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6608 N Queen Frances

Peoria, Illinois

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4209 N COLUMBUS Avenue

Peoria, Illinois

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7247 N LAKESIDE Court #24

Peoria, Illinois

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11217 N OAKWOOD Drive #51

Peoria, Illinois

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6512 N ROBINWOOD

Peoria, Illinois

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7106 N TEAKWOOD Court

Peoria, Illinois

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7319 N VILLA LAKE Drive

Peoria, Illinois

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500 W MICHIGAN Avenue

Metamora, Illinois

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1640 W GENEVA Road

Peoria, Illinois

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6415 N OAKBROOK

Peoria, Illinois

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1819 W LATHAM

Peoria, Illinois

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2122 W ALTA Road

Peoria, Illinois

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813 NORTH Street

Henry, Illinois

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9407 N Northview Road

Peoria, Illinois

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2724 W NEWMAN Parkway

Peoria, Illinois

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5625 N KICKAPOO EDWARDS Road

Edwards, Illinois

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911 W STRATFORD Drive

Peoria, Illinois

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12515 W GRAFELMAN Road

Hanna City, Illinois

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4212 N BROOKMONT Road

Peoria, Illinois

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236 W VAIL Court

Peoria, Illinois

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5504 N PEPPERWOOD Court

Peoria, Illinois

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5515 N LEAWOOD Court

Peoria, Illinois

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12104 N TALL TREES Drive

Dunlap, Illinois

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1012 W DEERBROOK Drive

Peoria, Illinois

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5511 N PEPPERWOOD

Peoria, Illinois

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1010 W NASSAU Drive

Peoria, Illinois

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424 W NORTHPOINT Lane

Peoria, Illinois

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124 OAKMOOR

East Peoria, Illinois

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311 W ARMSTRONG Avenue

Peoria, Illinois

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104 AVENUE NOTRE DAME

East Peoria, Illinois

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104 SCENIC BLUFF Drive

East Peoria, Illinois

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5711 W WOODBRIAR Lane

Peoria, Illinois

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15420 N RIVER BEACH Drive

Chillicothe, Illinois

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1116 W BROOKFOREST Drive

Peoria, Illinois

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5907 N SHERWOOD Avenue

Peoria, Illinois

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3723 N BIGELOW Street

Peoria, Illinois

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136 FAWN HAVEN Drive

East Peoria, Illinois

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7434 W HARVEST Drive

Mapleton, Illinois

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4629 S KING ARTHUR Court

Mapleton, Illinois

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3626 W CHARTWELL Road

Peoria, Illinois

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5235 W BRIARSTONE Drive

Peoria, Illinois

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749 W BROOKFOREST Drive

Peoria, Illinois

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7007 N White Fir Drive

Peoria, Illinois

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497 TAZEWOOD Road

Metamora, Illinois

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115 MIROMAR Lane

Washington, Illinois

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4511 W JEWELWOOD Court

Peoria, Illinois

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10031 VOORHEES Road

Edwards, Illinois

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10862 N GLENFIELD Drive

Dunlap, Illinois

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5309 N ASHFORD Drive

Peoria, Illinois

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7220 N WESCOTT Court

Peoria, Illinois

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609 W Copper Ridge Court

Dunlap, Illinois

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10 HUNTERS WAY

Washington, Illinois

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11333 N SYCAMORE CREEK

Dunlap, Illinois

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805 WELLINGTON

Washington, Illinois

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509 W GREENWAY Place

Peoria, Illinois

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132 STAR RIM

East Peoria, Illinois

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11002 N RUBY Court

Dunlap, Illinois

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11 WOODFORD Way

Metamora, Illinois

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6309 W Clairemont Court

Edwards, Illinois

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9824 N THOUSAND OAKS Court

Peoria, Illinois

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2310 W PINNACLE Drive

Dunlap, Illinois

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2417 COBBLE CREEK Court

Hanna City, Illinois

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3916 CRESTRIDGE Court

Peoria, Illinois

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735 W TOWNES Court

Peoria, Illinois

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11327 N SYCAMORE CREEK Drive

Dunlap, Illinois

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12701 GEORGETOWNE Road

Dunlap, Illinois

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9413 PHILANDER CHASE

Brimfield, Illinois

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812 W BRIDGETOWNE Court

Dunlap, Illinois

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10419 N HARVEST Court

Peoria, Illinois

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7512 N EDGEWILD Drive

Peoria, Illinois

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1396 CEDAR CREEK Drive

Metamora, Illinois

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408 W RAVINWOODS Road

Peoria, Illinois

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1201 W POPLAR WOODS Court

Dunlap, Illinois

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6640 N KRAMM Road

Brimfield, Illinois

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10209 W BRIDGEPORT Way

Hanna City, Illinois

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8144 N CRAB ORCHARD Court

Peoria, Illinois

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9842 N THOUSAND OAKS Court

Peoria, Illinois

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6421 W STONEBROOK Drive

Edwards, Illinois

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4702 N GRANDVIEW Drive

Peoria Heights, Illinois

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A great time to BUY! Contact The Knell Group for ANY of your real estate needs. We can connect you with a lender for a pre-approval. We are a full service team with you from START to FINISH!