Racing legend Bobby Rahal selling Lincoln Park home

The former Indy 500 winner now owns a racing team with David Letterman

Bobby Rahal and his Lincoln Park home (Credit: Wikimedia Commons and Home Discovery Team)
Bobby Rahal and his Lincoln Park home (Credit: Wikimedia Commons and Home Discovery Team)

Chicago isn’t exactly known as a hotbed for auto racing, especially open-wheel racing, but it’s home to one of the better known names in the sport: Bobby Rahal.

The former Indianapolis 500 champ is listing his Burling Street home this week for $5 million, but plans to stay in the city, according to Crain’s.

The native of suburban Glen Ellyn and his wife bought the home in 2015 and rehabbed it extensively. They previously owned another Lincoln Park home at 1903 North Howe Street that they sold for $3.4 million in 2014.

Rahal told Crain’s they are looking to downsize but stay in the city, possibly in a condo.

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The 7,000-square-foot home was built in 2007 and has seven bedrooms and eight total bathrooms. The listing agent is Jennifer Mills Klatt of Jameson Sotheby’s International Realty.

Rahal now owns a racing team with David Letterman. They are partners in Rahal-Letterman-Lanigan racing with businessman Mike Lanigan. As owners, the group won the Indianapolis 500 in 2004. Rahal won the big race as a driver in 1986. He retired in 1998.

The Chicago area is still part of the NASCAR circuit every summer, hosting a race at the Chicagoland Speedway in far southwest suburban Joliet. But the track hasn’t hosted a major open-wheel event since 2010. [Crain’s]John O’Brien