The Tower Terrace is a long stand at the Indianapolis Motor
Speedway that is in the middle of the inside of the front straight.  

The south end is by the Pagoda Control Tower.
The north end is by the Gate 7 tunnel entrance.

There are
suites above the terrace, from section 49-79
The
Media Center is above the terrace from section 37-48
Tickets to either of these are
not sold to the public.

Aluminum stands with back rests.

The Tower Terrace offers views of the pits and the front straight away.

There is a big screen TV hanging over the Paddock facing the Tower
Terrace Section 40.

Rows run from A (at the bottom) to MM, with no rows i or ii
20 seats per section per row.

2017 - They have now divided the Tower Terrace into North and South
areas.  The North runs from section 58 to 79.  As of this writing, these
seats are $20 cheaper for the Indy 500 than the seats to the south
because they have a closer view of the finish line and the winners circle.
Tower Terrace
In the map above, the left side is to the north.   The vertical lines you see in the stands are aisles.  
There are two sections or boxes between aisles.
TOWER TERRACE SEATING
This photo taken from Tower Terrace at 2005 US Grand Prix .
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Graphical Representation of view from middle of Tower Terrace.
Close-up View of a section of Tower Terrace