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 $85,000. Buyer must purchase a home with a value of 25% or more than their current home AND the purchased home must be at least $300,000 and a Caterpillar relocation program home. EXAMPLE: You live at 123 Main St, your home is worth $175,000. If you purchase a Caterpillar relocation program home that is $300,000 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! The new enhancement includes a lease buy out! Caterpillar will pay up to $10,000 in lease cancellation fees if you purchase at $300,000+ Caterpillar relocation program home. PLUS give you $3,500 in moving costs PLUS 3% closing costs on the new home! 


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.

Knell Group Collection     

100 SKYLARK Lane

Washington, Illinois

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10535 N LIVERPOOL Drive

Peoria, Illinois

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203 W COPPERFIELD Drive

Dunlap, Illinois

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10603 N DANA Drive

Peoria, Illinois

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2212 W CHATSFORD Court

Peoria, Illinois

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2604 W Carlisle Lane

Dunlap, Illinois

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405 E SWORDS Drive

Edelstein, Illinois

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6205 W Diversey Court

Edwards, Illinois

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Home Purchase Program Eligible

11014 N MOSSCLIFF Court

Dunlap, Illinois

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Home Purchase Program Eligible

3905 W TALUS Court

Peoria, Illinois

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Home Purchase Program Eligible

6826 N Sumac Road

Edwards, Illinois

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Home Purchase Program Eligible

5904 W FORESTWOOD Drive

Peoria, Illinois

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Home Purchase Program Eligible

5915 W EAGLECREEK Drive

Peoria, Illinois

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5924 W IVYLEAF Court

Peoria, Illinois

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Home Purchase Program Eligible

4611 N GRANDVIEW Drive

Peoria Heights, Illinois

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Home Purchase Program Eligible

1109 S COPPERPOINT Drive

Dunlap, Illinois

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Home Purchase Program Eligible

5728 W FORESTWOOD Drive

Peoria, Illinois

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Home Purchase Program Eligible

4527 N MILLER Avenue

Peoria Heights, Illinois

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818 W GRAND OAK Drive

Peoria, Illinois

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Home Purchase Program Eligible

4530 N MILLER Avenue

Peoria Heights, Illinois

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Home Purchase Program Eligible

 Area Homes (Listed by Price)                                                           

3407 N MISSOURI

Peoria, Illinois

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502 W LAWNDALE

Peoria, Illinois

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3007 N BIGELOW Street

Peoria, Illinois

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11217 N OAKWOOD Drive #51

Peoria, Illinois

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3200 W CHADWICK Lane

Peoria, Illinois

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910 W NORTHCREST Avenue

Peoria, Illinois

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4808 W WANDA Avenue

Bartonville, Illinois

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9435 W GUINIVERE Court

Mapleton, Illinois

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2216 W JUBILEE Lane

Dunlap, Illinois

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8660 N PICTURE RIDGE Road

Peoria, Illinois

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1980 N MAIN

Washington, Illinois

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7624 W Sportsman Drive

Mapleton, Illinois

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12504 N CEDAR BLUFF Drive

Dunlap, Illinois

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217 CAVELIER Road

Marquette Heights, Illinois

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7 BEAVER CREEK Drive

East Peoria, Illinois

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1934 COBBLESTONE

Washington, Illinois

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516 W RICHWOODS Boulevard

Peoria, Illinois

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1409 SADDLE BROOK Lane

Metamora, Illinois

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1280 GLENWOOD

Metamora, Illinois

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700 BAYBERRY

Washington, Illinois

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308 STONEWOOD Drive

East Peoria, Illinois

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1119 W MOSS Avenue

Peoria, Illinois

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808 COUNTY RD 700N

Sparland, Illinois

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467 E TOWNHALL Road

Metamora, Illinois

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2817 W SCHOOL Street

Dunlap, Illinois

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11919 N WINDCREST Court

Dunlap, Illinois

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5409 W BRIARSTONE Drive

Peoria, Illinois

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106 FAYETTE Court

Washington, Illinois

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1504 OAK RIDGE

Washington, Illinois

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805 DEBATES Street

Washington, Illinois

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15420 N RIVER BEACH Drive

Chillicothe, Illinois

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11506 N BALLYMORE

Dunlap, Illinois

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52 SHILOH Street

Morton, Illinois

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6836 N Ironwood Drive

Edwards, Illinois

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11526 N DUNMORE

Dunlap, Illinois

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11611 N BALLYMORE Avenue

Dunlap, Illinois

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2021 W LIAMS Way

Dunlap, Illinois

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Home Purchase Program Eligible

223 ELGIN Avenue

Washington, Illinois

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Home Purchase Program Eligible

414 COTTINGHAM Lane

Germantown Hills, Illinois

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1801 WINGED FOOT Drive

Pekin, Illinois

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Home Purchase Program Eligible

115 MIROMAR Lane

Washington, Illinois

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Home Purchase Program Eligible

6108 W Diversey Court

Edwards, Illinois

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2120 W FORESTGLEN Drive

Peoria, Illinois

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825 W BROOKFOREST Drive

Peoria, Illinois

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2616 W ALABASTER Avenue

Dunlap, Illinois

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Home Purchase Program Eligible

613 MAYFAIR Court

Germantown Hills, Illinois

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9708 N GOLDEN OAK Court

Peoria, Illinois

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3212 W SADDLE CREEK Drive

Dunlap, Illinois

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Home Purchase Program Eligible

5527 W ANCIENT OAK

Peoria, Illinois

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2009 ALAMEDA Court

Pekin, Illinois

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610 COUNTRYSIDE Drive

Metamora, Illinois

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903 MULBERRY Court

Metamora, Illinois

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Home Purchase Program Eligible

5315 N PROSPECT Road

Peoria, Illinois

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6506 HAZEL NUT

Edwards, Illinois

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6833 N Sumac Road

Peoria, Illinois

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1700 COYOTE CROSSING

Washington, Illinois

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Home Purchase Program Eligible

4133 W STONEWATER Drive

Peoria, Illinois

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Home Purchase Program Eligible

7200 N WESCOTT Court

Peoria, Illinois

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Home Purchase Program Eligible

3509 W OAK CREEK Court

Dunlap, Illinois

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Home Purchase Program Eligible

4319 W DEERMEADOW Drive

Peoria, Illinois

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7006 N DRAYCOTT Place

Peoria, Illinois

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126 OAKRIDGE Court

East Peoria, Illinois

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9609 N OAKFOREST Court

Peoria, Illinois

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2310 W PINNACLE Drive

Dunlap, Illinois

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5829 W FORESTWOOD Drive

Peoria, Illinois

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6609 N GREENWICH Place

Peoria, Illinois

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Home Purchase Program Eligible

903 W BENNETT Court

Dunlap, Illinois

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15225 Whitetail Crossing

Brimfield, Illinois

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9712 N CHERRY BARK

Peoria, Illinois

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7102 N DRAYCOTT Place

Peoria, Illinois

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Home Purchase Program Eligible

1625 NIGHTHAWK Court

Pekin, Illinois

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709 W BRIDGETOWNE Court

Dunlap, Illinois

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Home Purchase Program Eligible

7611 N EDGEWILD Drive

Peoria, Illinois

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Home Purchase Program Eligible

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!