diff --git a/build.gradle.kts b/build.gradle.kts
index 45e30ad1584..0b3379bab92 100644
--- a/build.gradle.kts
+++ b/build.gradle.kts
@@ -185,14 +185,13 @@ if (!project.hasProperty("versions.kotlin-native")) {
     extra["versions.kotlin-native"] = "1.3-dev-9780"
 }
 
-val isTeamcityBuild = project.hasProperty("teamcity") || System.getenv("TEAMCITY_VERSION") != null
-val intellijUltimateEnabled = project.getBooleanProperty("intellijUltimateEnabled") ?: isTeamcityBuild
+val isTeamcityBuild = project.kotlinBuildProperties.isTeamcityBuild
+val intellijUltimateEnabled by extra(project.kotlinBuildProperties.intellijUltimateEnabled)
 val effectSystemEnabled by extra(project.getBooleanProperty("kotlin.compiler.effectSystemEnabled") ?: false)
 val newInferenceEnabled by extra(project.getBooleanProperty("kotlin.compiler.newInferenceEnabled") ?: false)
 
 val intellijSeparateSdks = project.getBooleanProperty("intellijSeparateSdks") ?: false
 
-extra["intellijUltimateEnabled"] = intellijUltimateEnabled
 extra["intellijSeparateSdks"] = intellijSeparateSdks
 
 extra["IntellijCoreDependencies"] =
diff --git a/buildSrc/build.gradle.kts b/buildSrc/build.gradle.kts
index b1b5473ccb6..dc6804addbd 100644
--- a/buildSrc/build.gradle.kts
+++ b/buildSrc/build.gradle.kts
@@ -1,3 +1,5 @@
+import java.util.Properties
+
 extra["versions.shadow"] = "4.0.3"
 extra["versions.native-platform"] = "0.14"
 
@@ -64,8 +66,10 @@ rootProject.apply {
     from(rootProject.file("../gradle/versions.gradle.kts"))
 }
 
-val isTeamcityBuild = project.hasProperty("teamcity") || System.getenv("TEAMCITY_VERSION") != null
-val intellijUltimateEnabled by extra(project.getBooleanProperty("intellijUltimateEnabled") ?: isTeamcityBuild)
+val flags = LocalBuildProperties(project)
+
+val isTeamcityBuild = flags.isTeamcityBuild
+val intellijUltimateEnabled by extra(flags.intellijUltimateEnabled)
 val intellijSeparateSdks by extra(project.getBooleanProperty("intellijSeparateSdks") ?: false)
 val verifyDependencyOutput by extra( getBooleanProperty("kotlin.build.dependency.output.verification") ?: isTeamcityBuild)
 
@@ -116,4 +120,31 @@ allprojects {
     afterEvaluate {
         apply(from = "$rootDir/../gradle/cacheRedirector.gradle.kts")
     }
-}
\ No newline at end of file
+}
+
+// TODO: These classes should be omitted once Gradle plugin supports local.properties
+class LocalBuildPropertiesProvider(private val project: Project) {
+    private val localProperties: Properties = Properties()
+
+    val rootProjectDir: File = project.rootProject.rootDir.parentFile
+
+    init {
+        rootProjectDir.resolve("local.properties").takeIf { it.isFile }?.let {
+            it.reader().use(localProperties::load)
+        }
+    }
+
+    fun getString(name: String): String? = project.findProperty(name)?.toString() ?: localProperties[name]?.toString()
+
+    fun getBoolean(name: String): Boolean = getString(name)?.toBoolean() == true
+}
+
+class LocalBuildProperties(project: Project) {
+    val propertiesProvider = LocalBuildPropertiesProvider(project)
+
+    val isTeamcityBuild = propertiesProvider.getString("teamcity") != null || System.getenv("TEAMCITY_VERSION") != null
+
+    val intellijUltimateEnabled =
+        (propertiesProvider.getBoolean("intellijUltimateEnabled") || isTeamcityBuild)
+                && propertiesProvider.rootProjectDir.resolve("kotlin-ultimate").exists()
+}
diff --git a/buildSrc/src/main/kotlin/buildProperties.kt b/buildSrc/src/main/kotlin/buildProperties.kt
index 1a54cb15591..c6a17614cab 100644
--- a/buildSrc/src/main/kotlin/buildProperties.kt
+++ b/buildSrc/src/main/kotlin/buildProperties.kt
@@ -56,8 +56,13 @@ class KotlinBuildProperties(
     val useBootstrapStdlib: Boolean
         get() = isInJpsBuildIdeaSync
 
-    val includeCidrPlugins: Boolean =
-        getBoolean("cidrPluginsEnabled") && propertiesProvider.rootProjectDir.resolve("kotlin-ultimate").exists()
+    val kotlinUltimateExists: Boolean = propertiesProvider.rootProjectDir.resolve("kotlin-ultimate").exists()
+
+    val includeCidrPlugins: Boolean = kotlinUltimateExists && getBoolean("cidrPluginsEnabled")
+
+    val isTeamcityBuild: Boolean = getBoolean("teamcity") || System.getenv("TEAMCITY_VERSION") != null
+
+    val intellijUltimateEnabled: Boolean = kotlinUltimateExists && (getBoolean("intellijUltimateEnabled") || isTeamcityBuild)
 }
 
 private const val extensionName = "kotlinBuildFlags"
diff --git a/buildSrc/src/main/kotlin/localDependencies.kt b/buildSrc/src/main/kotlin/localDependencies.kt
index 53cc01abbd4..73af2c20f52 100644
--- a/buildSrc/src/main/kotlin/localDependencies.kt
+++ b/buildSrc/src/main/kotlin/localDependencies.kt
@@ -31,7 +31,7 @@ private fun Project.kotlinBuildLocalRepoDir() = File("${project.rootDir.absolute
 private fun Project.ideModuleName() = when (IdeVersionConfigurator.currentIde.kind) {
     Ide.Kind.AndroidStudio -> "android-studio-ide"
     Ide.Kind.IntelliJ -> {
-        if (getBooleanProperty("intellijUltimateEnabled") == true) "ideaIU" else "ideaIC"
+        if (kotlinBuildProperties.intellijUltimateEnabled) "ideaIU" else "ideaIC"
     }
 }
 
diff --git a/settings.gradle b/settings.gradle
index b53a7d5b965..ab3999a962a 100644
--- a/settings.gradle
+++ b/settings.gradle
@@ -237,12 +237,14 @@ if (flags.includeCidrPlugins) {
 }
 
 def isTeamcityBuild = hasProperty("teamcity") || System.getenv("TEAMCITY_VERSION") != null
-def includeUltimate = hasProperty("intellijUltimateEnabled") && intellijUltimateEnabled != 'false'
-if (isTeamcityBuild || includeUltimate) {
+if (flags.kotlinUltimateExists && (isTeamcityBuild || flags.intellijUltimateEnabled)) {
     include(
-            ":ultimate",
-            ":ultimate:ultimate-runner"
+            ":kotlin-ultimate:ultimate",
+            ":kotlin-ultimate:ultimate:ultimate-runner"
     )
+    logger.info("Including extension for IJ Ultimate in settings.gradle")
+} else {
+    logger.info("NOT including extension for IJ Ultimate in settings.gradle")
 }
 
 if (flags.inJpsBuildIdeaSync) {