For Sale: 1978 Chevrolet Corvette in Saugatuck, Michigan

1978 Chevrolet Corvette L82 Indy 500 Pace Car - 12,079 Original Miles - Highly Documented Survivor - Blown Original Motor

Contact Us By Call or Text Anytime!! Chicago Car Club - 312-420-3696

PLEASE BE SURE TO WATCH OUR DETAILED YOUTUBE VIDEO! Visit our website for even more high-resolution photos, including full engine and underbody photos as well!

This 1978 Chevrolet Corvette Indy 500 Pace Car Limited Edition Coupe is an incredibly well-preserved, ultra-low-mileage time capsule showing just 12,079 original miles from new. As documented by its original factory window sticker and original dealer purchase order, this car was assembled at the St. Louis, Missouri plant and delivered new to Lockwood Chevrolet Inc. in Herscher, Illinois. Purchased on May 20, 1978, by its original owner, Duane Phillips of Kankakee, Illinois, this Corvette represents a rare opportunity to acquire a highly original, beautifully documented piece of automotive history. We are proud to note that we have the original factory window sticker and the original dealer invoice from when the car was brand new.

Factory Window Sticker Options & Specs
Vehicle Identification Number: 1Z8748S905248

Z78 Limited Edition Corvette Coupe Package: Includes the iconic two-tone paint scheme, special limited edition decals, front/rear spoiler package, contoured bucket seats, and sport mirrors.

L82 350ci High-Performance V8 Engine

MX1 Automatic Transmission

152 AYY2 Silver/Smoke Leather Bucket Seats

Factory Air Conditioning

K30 Cruise-Master Speed Control

Glass Roof Panels (T-Tops)

Power Windows & Power Door Locks

Tilt & Telescopic Steering Column

Stereo Tape System with AM/FM Stereo Radio

Original Total Amount: $14,390.21

Important Mechanical Condition Note: Blown Original Engine
This Corvette was meticulously maintained throughout its life and was an excellent driver prior to its recent mechanical failure. The vehicle is now being sold with its original, numbers-matching motor explicitly in non-running, blown condition. Despite receiving regular care and recent service work, the oil pump unfortunately failed while driving on the highway in 2025. By the time the owner noticed the sudden drop in oil pressure, the internal damage had already been done.

Upon inspection, we located a hole in the oil pan, which is directly indicative of a broken connecting rod or a broken crankshaft. We have drained a good portion of the oil out of the engine, but we have not touched, disassembled, or altered the motor beyond this visual inspection. We do not see any signs of external damage to the engine block itself; however, we cannot confirm its internal status. We are hopeful that the engine block remains salvageable for a proper rebuild to preserve the car's numbers-matching lineage. Because the car is currently non-running, we cannot test any of the auxiliary mechanical or vacuum features, such as the air conditioning system, transmission engagement, or power functions.

Body, Paint & Exterior Presentation
Cosmetically, this Pace Car is a stunning, largely untouched survivor. The exterior appears to completely retain its original factory paint and special edition decals, which present in excellent condition. The fiberglass body lines are perfectly straight, and there are very few minor blemishes to be found anywhere on the exterior. The tires are in good shape with plenty of tread. The glass roof panels are nice, and the factory aluminum wheels present beautifully. We also have the original factory T-Top storage pouches preserved in the back.

Interior Condition
The original Silver and Smoke leather interior is in absolutely fantastic shape, easily supporting the car's low 12,079-mile odometer reading. The bucket seats are nearly perfect with excellent bolster structure and minimal wear. The dash, door panels, console, and instrumentation all show beautifully. The original factory floor mats are still present as well. The cabin is entirely smoke-free with no signs of past smoking or unwanted interior odors.

This is an exceptional opportunity for a Corvette collector or restorer to buy a highly documented, 12K-mile Indy Pace Car survivor with a known history from day one. It serves as the ultimate candidate for a high-end engine build or a factory-correct mechanical restoration.

Contact Us By Call or Text Anytime!! Chicago Car Club - 312-420-3696

PLEASE BE SURE TO WATCH OUR DETAILED YOUTUBE VIDEO! Visit our website for even more high-resolution photos, including full engine and underbody photos as well!