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     

4527 N MILLER Avenue

Peoria Heights, Illinois

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Home Purchase Program Eligible

6421 W STONEBROOK Drive

Edwards, Illinois

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9842 N THOUSAND OAKS Court

Peoria, Illinois

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Home Purchase Program Eligible

6610 N PARKLAWN Court

Peoria, Illinois

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Home Purchase Program Eligible

606 W COPPERFIELD Drive

Dunlap, Illinois

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4611 N GRANDVIEW Drive

Peoria Heights, Illinois

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Home Purchase Program Eligible

419 HIGHVIEW Road

East Peoria, Illinois

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6826 N Sumac Road

Peoria, Illinois

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Home Purchase Program Eligible

3905 W TALUS Court

Peoria, Illinois

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Home Purchase Program Eligible

2625 W Carrington Court

Dunlap, Illinois

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Home Purchase Program Eligible

115 MIROMAR Lane

Washington, Illinois

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Home Purchase Program Eligible

405 E SWORDS Drive

Edelstein, Illinois

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805 DEBATES Street

Washington, Illinois

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2806 W SCHOOL Street

Dunlap, Illinois

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10535 N LIVERPOOL Drive

Peoria, Illinois

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 Area Homes (Listed by Price)     

3327 W PILGRIMS WAY

Peoria, Illinois

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Home Purchase Program Eligible

4527 N MILLER Avenue

Peoria Heights, Illinois

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Home Purchase Program Eligible

6421 W STONEBROOK Drive

Edwards, Illinois

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9842 N THOUSAND OAKS Court

Peoria, Illinois

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Home Purchase Program Eligible

6610 N PARKLAWN Court

Peoria, Illinois

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Home Purchase Program Eligible

7611 N EDGEWILD Drive

Peoria, Illinois

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Home Purchase Program Eligible

1001 S CUMMINGS

Washington, Illinois

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31 SAPPHIRE Point

Morton, Illinois

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606 W COPPERFIELD Drive

Dunlap, Illinois

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1201 W POPLAR WOODS Court

Dunlap, Illinois

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4611 N GRANDVIEW Drive

Peoria Heights, Illinois

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Home Purchase Program Eligible

9824 W BRIDGEPORT Way

Hanna City, Illinois

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419 HIGHVIEW Road

East Peoria, Illinois

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4105 W VISTARIDGE Court

Peoria, Illinois

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10627 N TRAILS EDGE Drive

Peoria, Illinois

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12701 N GEORGETOWNE Road

Dunlap, Illinois

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Home Purchase Program Eligible

509 WHISTLING STRAIT

Washington, Illinois

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5607 W TIMBER OAK Court

Peoria, Illinois

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4408 LONGMEADOW Drive

Peoria, Illinois

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903 W BENNETT Court

Dunlap, Illinois

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2310 W PINNACLE Drive

Dunlap, Illinois

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735 W TOWNES Court

Peoria, Illinois

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Home Purchase Program Eligible

6700 N FIELDSTONE Court

Peoria, Illinois

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Home Purchase Program Eligible

1009 W BENNETT

Dunlap, Illinois

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4319 W DEERMEADOW Drive

Peoria, Illinois

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5800 W EAGLECREEK Drive

Peoria, Illinois

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6705 N GREENWICH Place

Peoria, Illinois

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11608 BROWNSHIRE

Dunlap, Illinois

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6826 N Sumac Road

Peoria, Illinois

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Home Purchase Program Eligible

719 S SARA Court

Dunlap, Illinois

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7027 N DRAYCOTT Place

Peoria, Illinois

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Home Purchase Program Eligible

4518 W TILLEY Court

Peoria, Illinois

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Home Purchase Program Eligible

609 W Copper Ridge Court

Dunlap, Illinois

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3905 W TALUS Court

Peoria, Illinois

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Home Purchase Program Eligible

11915 N OLD HICKORY GROVE Road

Dunlap, Illinois

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Home Purchase Program Eligible

12052 N HICKORY GROVE Road

Dunlap, Illinois

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Home Purchase Program Eligible

10031 VOORHEES Road

Edwards, Illinois

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2910 W WESSEX Drive

Peoria, Illinois

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1210 WHETSTONE Drive

Morton, Illinois

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Home Purchase Program Eligible

6506 HAZEL NUT

Edwards, Illinois

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Home Purchase Program Eligible

2625 W Carrington Court

Dunlap, Illinois

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Home Purchase Program Eligible

1454 NE WINDERMERE Drive

Tremont, Illinois

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6720 N Basket Oak Drive

Peoria, Illinois

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Home Purchase Program Eligible

11511 N EVANS MILL Road

Princeville, Illinois

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11 DAYTON Court

Morton, Illinois

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5708 W DEER PARK #50

Peoria, Illinois

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4415 N MILLER Avenue

Peoria Heights, Illinois

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Home Purchase Program Eligible

6833 N White Fir Drive

Peoria, Illinois

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115 MIROMAR Lane

Washington, Illinois

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Home Purchase Program Eligible

1801 WINGED FOOT Drive

Pekin, Illinois

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Home Purchase Program Eligible

713 DRAKE

Washington, Illinois

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3723 N BIGELOW Street

Peoria, Illinois

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10831 N SAWMILL Lane

Dunlap, Illinois

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1728 Retriever Lane

Washington, Illinois

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912 W BAYBROOK Court

Peoria, Illinois

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417 W COPPERFIELD Drive

Dunlap, Illinois

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3725 W Thistle Lane

Dunlap, Illinois

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4629 S KING ARTHUR Court

Mapleton, Illinois

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405 E SWORDS Drive

Edelstein, Illinois

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5105 W NEWCASTLE Drive

Peoria, Illinois

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2224 W BROOKLYN

Peoria, Illinois

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11526 N DUNMORE

Dunlap, Illinois

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1612 MAGNOLIA

Washington, Illinois

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4044 W TALUS Court

Peoria, Illinois

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4012 W PENNY LANE

Dunlap, Illinois

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519 S HAMPTONS COVE

Peoria, Illinois

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7006 N GRAND FIR Drive

Peoria, Illinois

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6806 N AYCLIFFE Drive

Peoria, Illinois

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1617 OAK RIDGE

Washington, Illinois

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203 W COPPERFIELD Drive

Dunlap, Illinois

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2507 W Whittington

Dunlap, Illinois

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1641 W MEADOWVIEW Drive

Dunlap, Illinois

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15420 N RIVER BEACH Drive

Chillicothe, Illinois

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805 DEBATES Street

Washington, Illinois

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2806 W SCHOOL Street

Dunlap, Illinois

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2012 W CASECREEK Drive

Peoria, Illinois

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600 N MOSSVILLE Road

Peoria, Illinois

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10712 N SLEEPY HOLLOW Road

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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10917 N WATERTON Drive

Dunlap, Illinois

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1405 GINGOTEAGUE Way

Pekin, Illinois

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10535 N LIVERPOOL Drive

Peoria, Illinois

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1119 W MOSS Avenue

Peoria, Illinois

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6703 N TALISMAN Terrace

Peoria, Illinois

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147 CRACKLEWOOD

East Peoria, Illinois

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424 W NORTHPOINT Lane

Peoria, Illinois

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100 SKYLARK Lane

Washington, Illinois

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700 BAYBERRY

Washington, Illinois

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1710 W NORTHEDGE Court

Dunlap, Illinois

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2322 ARLINGTON Circle

Pekin, Illinois

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1931 COLE Road

East Peoria, Illinois

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5022 N PARK Place

Peoria Heights, Illinois

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1934 COBBLESTONE

Washington, Illinois

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123 SW JEFFERSON Street #E5

Peoria, Illinois

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6705 N STONE FENCE Court

Peoria, Illinois

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10009 N Brompton

Peoria, Illinois

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3507 W TEDFORD Drive

Peoria, Illinois

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4212 N BROOKMONT Road

Peoria, Illinois

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405 STILLWATER

Chillicothe, Illinois

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1903 W TETON Drive

Peoria, Illinois

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9303 N FRYE Road

Peoria, Illinois

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5222 N MERRIMAC Avenue

Peoria, Illinois

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217 CAVELIER Road

Marquette Heights, Illinois

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7624 W Sportsman Drive

Mapleton, Illinois

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8308 W VICKI LYNN Drive

Mapleton, Illinois

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2724 W NEWMAN Parkway

Peoria, Illinois

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2216 W JUBILEE Lane

Dunlap, Illinois

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6512 N ROBINWOOD

Peoria, Illinois

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9435 W GUINIVERE Court

Mapleton, Illinois

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11217 OAKWOOD Drive

Peoria, Illinois

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400 WILSHIRE Drive

Washington, Illinois

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1515 W DEVEREUX Drive

Peoria, Illinois

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11217 N OAKWOOD Drive #51

Peoria, Illinois

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1141 W LAKECREST Drive

Peoria, Illinois

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5125 W ARROWOOD Place

Peoria, Illinois

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405 WOODROW Drive

East Peoria, Illinois

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620 E Marietta

Peoria Heights, Illinois

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217 W BEECH

Chillicothe, 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!