Office Lease Up (April 24) Caterpillar Bucks Trend, Selects Suburbs for HQ Location Over Downtown Chicago

Heavy equipment manufacturer Caterpillar Inc. (NYSE: CAT) announced Wednesday it will relocate to Chicago’s suburbs, opting to move its global headquarters to the northern Chicago suburb of Deerfield over several downtown options after more than 90 years being based in the heart of the state in Peoria, IL.

Caterpillar reached a multi-year lease agreement with Corporate 500 Centre, a four-building office campus on Lake Park Road totaling 700,000…