The Sears Point (Sonoma Raceway) website has a good list of places to stay.
http://www.racesonoma.com/fanguide/travel/lodging/
None are "close distance" as the raceway is not in an urban area. Novato is the closest town. Look at Google maps or a similar resource to judge distances ... but no matter where you stay (unless you have an RV at the track) you will need to plan on driving to the track. Also be aware there is little "cheap" lodgings in the area, as you are entering the popular wine country area, so demand for lodgings is pretty high year round.
The main grandstands have advantages/disadvantages over other locations ...
* No matter where you sit, the course is large and built in a hilly area, so no one location allows you to see the entire track. Most seating areas have large video screens that show the race video during the race.
* The grandstands allow you to directly see some pit activity, and the start/finish line, which other areas don't give you.
* The seating areas at turn 2 and turn 7 are good locations if you want to see passing and other action, especially turn 7. The turn 3 seating is usually closed for Indycar races. I don't personally like the views from the turn 9 stands.
* No matter where you sit, plan on walking around, there are several locations that give good views that are not part of the seating areas.
* Wear walking shoes .... you will do a lot over the weekend. Also bring sun protection, there is little shade and it will be HOT by afternoon.
* You can take in bottled water (plastic) and the concession prices are high, so take in water of your own if you don't mind carrying it. You can buy beer, but can't bring it in yourself, though the checking of bags is often sporadic.
As ARROWZ46 said, the autograph sessions are usually held in the area open to any ticket holder. Whether you want to spend the money on garage/pit access is up to you, I'm not sure how much access you get at an Indycar race, most races at Sonoma have very limited access even for pit/garage pass holders as the area is small and crowds at Sonoma can be large (though not so much for Indycar).
I'd go for Turn 7 seating before I did the Grandstand, but that's just me ... the Grandstands provide good views also.
Have fun !!!
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