Caterpillar will move their global headquarters to Deerfield, Ill., the company announced in a press release Wednesday.
The company took out a multi-year lease on a building in the Corporate 500 office park. The northern Chicago suburb of Deerfield is just minutes away from O'Hare International Airport.
The Fortune 100 company announced they were moving their headquarters from Peoria to the Chicago area in January, after spending nearly a century based downstate.
"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," said Caterpillar CEO Jim Umpleby in a statement. "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."
About 100 Caterpillar employees are expected to move to the new headquarters by the end of 2017, with 300 total to relocate by mid-2018. Umpleby said the majority of the 12,000 employees currently in the Peoria area will remain in Central Illinois.