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):     

1934 COBBLESTONE

Washington, Illinois

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5022 N PARK Place

Peoria Heights, Illinois

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424 W NORTHPOINT Lane

Peoria, Illinois

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511 FOX DEN COVE

Peoria, Illinois

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265 E FAR HILLS Drive

East Peoria, Illinois

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2806 W SCHOOL Street

Dunlap, 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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6806 N AYCLIFFE Drive

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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2211 W Leyna Drive

Dunlap, Illinois

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12052 N HICKORY GROVE Road

Dunlap, Illinois

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115 MIROMAR Lane

Washington, Illinois

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6720 N Basket Oak Drive

Peoria, Illinois

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7220 N WESCOTT Court

Peoria, Illinois

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11915 N HICKORY GROVE Road

Dunlap, Illinois

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11132 N SADDLEHORN Way

Dunlap, Illinois

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3008 W WESSEX

Peoria, Illinois

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1813 AUTUMN RIDGE

Washington, Illinois

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735 W TOWNES Court

Peoria, Illinois

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4 Bishops Court

Washington, Illinois

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12701 N GEORGETOWNE Road

Dunlap, Illinois

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1396 CEDAR CREEK Drive

Metamora, Illinois

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3327 W PILGRIMS WAY

Peoria, Illinois

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6610 N PARKLAWN Court

Peoria, Illinois

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9842 N THOUSAND OAKS Court

Peoria, Illinois

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 Homes Offering Incentives: (Listed by Price)    

217 W BEECH

Chillicothe, Illinois

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504 ROSEWOOD

Washington, Illinois

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5125 W ARROWOOD Place

Peoria, Illinois

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600 LINCOLN

Washington, Illinois

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6608 N Queen Frances

Peoria, Illinois

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809 W SHENANDOAH

Peoria, Illinois

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11217 N OAKWOOD Drive #51

Peoria, Illinois

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400 WILSHIRE Drive

Washington, Illinois

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6512 N ROBINWOOD

Peoria, Illinois

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500 W MICHIGAN Avenue

Metamora, Illinois

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10013 W LAKE CAMELOT Drive

Mapleton, Illinois

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6415 N OAKBROOK

Peoria, Illinois

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2724 W NEWMAN Parkway

Peoria, Illinois

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813 NORTH Street

Henry, Illinois

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911 W STRATFORD Drive

Peoria, Illinois

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1009 WALNUT

Washington, Illinois

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200 SANDYSHORES Drive

Chillicothe, Illinois

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501 S PLEASANT HILL Road

East Peoria, Illinois

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12515 W GRAFELMAN Road

Hanna City, Illinois

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1304 W BRENTWOOD Drive

Dunlap, Illinois

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4212 N BROOKMONT Road

Peoria, Illinois

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5913 N IMPERIAL Drive

Peoria, Illinois

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2210 W KENFIELD Court

Peoria, Illinois

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111 KNOLLAIRE Court

Metamora, Illinois

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608 STILLWATER Drive

Chillicothe, Illinois

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1416 AUSTIN Avenue

Washington, Illinois

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6332 N SYLER Drive

Peoria, Illinois

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236 W VAIL Court

Peoria, Illinois

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1012 W DEERBROOK Drive

Peoria, Illinois

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1934 COBBLESTONE

Washington, Illinois

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5022 N PARK Place

Peoria Heights, Illinois

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424 W NORTHPOINT Lane

Peoria, Illinois

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511 FOX DEN COVE

Peoria, Illinois

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7237 N CRABAPPLE Court

Peoria, Illinois

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311 W ARMSTRONG Avenue

Peoria, Illinois

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4026 S SHEFFIELD Road

Bartonville, Illinois

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265 E FAR HILLS Drive

East Peoria, Illinois

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519 S HAMPTONS COVE

Peoria, Illinois

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2806 W SCHOOL Street

Dunlap, 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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1207 AUDUBON Drive

Pekin, Illinois

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5907 N SHERWOOD Avenue

Peoria, Illinois

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104 SCENIC BLUFF Drive

East Peoria, Illinois

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6806 N AYCLIFFE Drive

Peoria, Illinois

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12636 N FILLYSIDE

Dunlap, Illinois

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9441 W GUINIVERE Court

Mapleton, Illinois

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5711 W WOODBRIAR Lane

Peoria, Illinois

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1315 N HICKORY HILLS Road

Metamora, Illinois

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4629 S KING ARTHUR Court

Mapleton, Illinois

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1219 W POPLAR WOODS Court

Dunlap, Illinois

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749 W BROOKFOREST Drive

Peoria, Illinois

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2211 W Leyna Drive

Dunlap, Illinois

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405 SYCAMORE TRAIL

Chillicothe, Illinois

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537 N MISSOURI Avenue

Morton, Illinois

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12052 N HICKORY GROVE Road

Dunlap, Illinois

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115 MIROMAR Lane

Washington, Illinois

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7299 N WHIPPOORWILL Lane

Peoria, Illinois

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4511 W JEWELWOOD Court

Peoria, Illinois

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6720 N Basket Oak Drive

Peoria, Illinois

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11118 N SADDLEHORN Way

Dunlap, Illinois

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10031 VOORHEES Road

Edwards, 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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2910 W WESSEX Drive

Peoria, Illinois

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1018 HILLCREST Drive

Washington, Illinois

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11915 N HICKORY GROVE Road

Dunlap, Illinois

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709 SARA Court

Dunlap, Illinois

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11132 N SADDLEHORN Way

Dunlap, Illinois

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3008 W WESSEX

Peoria, Illinois

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5309 N ASHFORD Drive

Peoria, Illinois

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5829 W FORESTWOOD Drive

Peoria, Illinois

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6705 N GREENWICH Place

Peoria, Illinois

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6309 W Clairemont Court

Edwards, Illinois

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11002 N RUBY Court

Dunlap, Illinois

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820 W BENNETT Court

Dunlap, Illinois

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2417 COBBLE CREEK Court

Hanna City, Illinois

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5607 W TIMBER OAK Court

Peoria, Illinois

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1813 AUTUMN RIDGE

Washington, Illinois

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735 W TOWNES Court

Peoria, Illinois

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4105 W VISTARIDGE Court

Peoria, Illinois

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4 Bishops Court

Washington, Illinois

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509 WHISTLING STRAIT

Washington, Illinois

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12701 N GEORGETOWNE Road

Dunlap, Illinois

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1396 CEDAR CREEK Drive

Metamora, Illinois

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1201 W POPLAR WOODS Court

Dunlap, Illinois

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8144 N CRAB ORCHARD Court

Peoria, Illinois

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3327 W PILGRIMS WAY

Peoria, Illinois

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6610 N PARKLAWN 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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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!