Caterpillar Inc. is moving its headquarters to the Chicago area and won't build a new complex in its current Peoria, Illinois location. The move comes as the company faces a weak equipment market that has been cutting into its bottom line. The company said it will locate a limited group of senior executives and support functions in the Chicago area later in the year 2017, saying it is a more strategic location. It expects about 300 people to be based at the new location. Caterpillar said the vast majority of its people will remain in central Illinois. The current Caterpillar building in Peoria, Illinois will continue to be used.