Caterpillar Unveils New HQ Location
- Apr 24, 2017
Caterpillar Inc. will be moving its new global headquarters from Peoria to Deerfield, Ill., agreeing to lease a space with Corporate 500 office park in the northern Chicago suburb.
“Caterpillar’s Board of Directors has been discussing the benefits of a more accessible, strategic location for some time,” Jim Umpleby, Caterpillar’ CEO, told Commercial Property Executive. “Since 2012, about two-thirds of Caterpillar’s sales and revenues have come from outside the U.S. Locating our headquarters closer to a global transportation hub, such as Chicago, means we can meet with our global customers, dealers and employees more easily and frequently.”
Earlier this year, Caterpillar announced its plans to relocate a group of senior executives and support functions in order to improve access to Caterpillar’s worldwide operations, scrapping plans of a Peoria-based headquarters complex in the process. The company expects about 100 employees to relocate to its new building this year, with approximately 300 people working in the new headquarters when fully operational in mid-2018.
The new building is just minutes away from Chicago’s O’Hare International Airport, and is centrally located near major interstates and offers direct access to the Chicago Metra.
“Following a thorough site selection process, we chose this location because it is approximately a 20-minute drive to O’Hare airport and convenient to the city of Chicago via commuter train, achieving our goal to be more accessible to our global customers, dealers and employees,” Umpleby said in a company release. “This site gives our employees many options to live in either an urban or suburban environment. We know we have to compete for the best talent to grow our company, and this location will appeal to our diverse, global team, today and in the future.”
With sales and revenues of $38.5 billion last year, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and naturalgas engines, industrial gas turbines and diesel-electric locomotives.