Team Owner Roger Penske Selling Michigan Home
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| Roger Penske |
Billionaire NASCAR and IndyCar team owner Roger Penske is selling his home in Birmingham, MI, a posh Detroit suburb, for $2.5 million.
The 4,607-square-foot, two-story Colonial was custom-built in 2001 and features four bedrooms, heated driveway and walkways, gym, wine room, and sauna. Its master suite has dual walk-in closets and a marble bathroom. Custom millwork and built-ins are found in most of the home’s 17 rooms.
Penske, 79, is one of the founding fathers of American auto racing. In his 20s, he raced professionally, winning four consecutive Sports Car Club of America National Championships from 1960 to 1963 and was named Sport Illustrated’s Driver of the Year in 1961.
He retired as a driver at the age of 28 and launched Team Penske, which has won 16 first-place finishes at the Indianapolis 500 from 1972 to 2015. In its 50-year history, Team Penske has won more than 170 races and 13 national championships.
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| Penske Home at 600 Chester Street |
When he’s not at the track, Penske runs the publicly traded Penske Automotive Group, one of the largest car dealership companies in the world. The company employs more than 20,000 people and is listed on the Fortune 500. According to Forbes, Penske himself is estimated to be worth in excess of $1.5 billion.
Homes like Penske’s are not out of the ordinary in Birmingham, a city of roughly 20,000 people, with a median household income of $100,000 and a median home listing price of $740,000.
Birmingham is popular with auto industry execs, but Penske’s home doesn’t take the checkered flag as the most expensive listing in the city. That would be the 5,300-square-foot home at 118 Waterfall Lane, which is listed for $5 million.
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| Penske's Living Room |
Penske collects rare and exotic cars, including the Ferrari FXX, a prototype supercar that Penske briefly put on display at the Wynn in Las Vegas. There are only 30 known models worldwide.
In 2012, he allowed Sports Illustrated a rare look at his private collection of 75 cars, housed in a nondescript warehouse outside Detroit. It’s no wonder: For a lifelong car lover like Penske, his home for sale in Birmingham features a basic two-car garage.