"The book will deal with the world in general in that era, the rise of the automobile, the birth of the Speedway, and-of course-the race," Leerhsen told IBJ.
The Indianapolis Motor Speedway, which is not officially involved in the project, is assisting Leerhsen with research.
"We've offered our files and personnel to work with him to the extent he needs it," said Indianapolis Motor Speedway spokesman Fred Nation. "He has already visited our facility one or two times and I expect he will be back."
Nation is optimistic about the book's impact.
"Based on Charles' reputation, and the work he's done before, we think this book should heighten the interest and raise the profile of this race," Nation said.
Justin Escue, of locally based My First Bike Productions, and screenwriter Angelo Pizzo are trying to raise $30 million to $60 million to make a movie about the 1911 race. Escue hopes to start shooting late this year.
Last year, Simon & Schuster released Leerhsen's acclaimed book about harness racing titled, "Crazy Good: The True Story of Dan Patch, the Most Famous Horse in America." That book is set in the same period as the inaugural Indy 500.
Leerhsen, a magazine veteran who has also worked stints for Newsweek, People and US Weekly, is in the research and early writing phases of the book. Leerhsen said his book will weave in some present-day information about the Speedway "when it makes sense."
Leerhsen has written books with test pilot Chuck Yeager, successful television executive Brandon Tartikoff and business tycoon Donald Trump.