Caterpillar announces purchase of Chase Bank building

By WEEK Reporter

December 21, 2012 Updated Dec 21, 2012 at 7:27 PM CDT

PEORIA, Ill -- Caterpillar Inc. has announced the purchase of the Chase Bank Building in downtown Peoria.

CAT Spokesman Rusty Dunn confirmed the purchase, saying it is part of a strategic plan to accommodate the company's need for longer term office space.

Earlier this year, CAT announced it was planning to build a new corporate headquarters in downtown Peoria.

Dunn says the Chase building transaction is a separate matter from the corporate headquarters study.