Shinola Leader Jacques Panis Paid $485,000 for an Indian Village Home

Jacques Panis

Shinola President Jacques Panis is investing in Detroit beyond his brand.

Panis bought a home in Indian Village late last year, Sarah Cox of Curbed Detroit reports.

The house had languished on the market for years and dropped the asking price several times, Cox writes. Panis paid $485,000 for the three-story, seven-bedroom residence.

A local real estate agent says the sales price is the highest in the Villages for at least the last two years, according to Curbed.