The 41-year-old Gaetti hit .204 with nine home runs and 46 RBIs in 113 games this season.
Gaetti also played in his 2,500th game this season, becoming only the 40th player in major league history to reach that milestone. He finished the season with 2,502 games, putting him third on the career list among third basemen.
Gaetti ranks 46th in career home runs with 360 and his 1,340 RBIs ranks him 52nd. He also has 2,280 hits. He has played in two All-Star games and won four Gold Gloves.
Gaetti came to the Cubs during the 1998 season and his strong performance over the last six weeks of the season when he hit .320 was one of the keys in the Cubs playoff run.
Gaetti began his major league career in Minnesota and helped the Twins win a World Series. He left the Twins after the 1990 season, playing with the California Angels, Kansas City Royals and St. Louis Cardinals before coming to the Cubs late in the 1998 season.
The Cubs on Monday also announced the purchase of left-handed pitcher Dan Serafini's contract from their Triple-A team in Iowa.
Serafini, 25, spent most of the season with the Cubs and was 3-2 with one save and a 6.93 ERA in 42 games before finishing the season at Iowa.
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