A gated house in Miami Beach, Florida, owned by Michael Polsky, founder and chief executive of Chicago-based clean energy company Invenergy LLC, has changed hands for $24 million.

The sale is the most expensive ever for a single-family home in Bal Harbour—a small village in the northern tip of Miami Beach—according to listing records. The previous record was set in 2013 when another home on the same street, Bal Bay Drive, was sold for $17.5 million, according to the Multiple Listing Service.

The sale closed Tuesday. The buyer was listed as US PLO 224 LLC, an entity registered in Delaware, according to public records.

Dina Goldentayer of Douglas Elliman listed the property in February for $24.95 million. Sandra Debuire of Coldwell Banker represented the buyer. Both declined to disclose the identities of their clients.

Mr. Polsky, 68, used a limited liability company to buy the property for $7.5 million in 2013, per property records. He then commissioned architectural firm

Choeff Levy Fischman and interior designer Deborah Wecselman to design the modern home, according to the Douglas Elliman listing.

The 11,700-square-foot home, sitting along 100 feet of water frontage, features an open-concept floor plan and floor-to-ceiling sliding glass doors to complete the indoor-outdoor living experience. It has eight bedrooms, nine bathrooms, a media room, a lounge, a multi-purpose room and a large indoor gym. The master bedroom suite comes with two large terraces, one of which has an outdoor shower, according to the listing.

Unique to this home is its 1,433-square-foot rooftop space that is solar-panel ready. The roof has an elevated wooden deck, a custom built-in bar with tropical wood finish and custom built-in seating, according to the listing.

Outdoors, there is a pool, a reflective pond, a motor court, a dining area with a full kitchen and a covered terrace with a firepit.

Mr. Polsky, an alumnus of the University of Chicago who donated $7 million to help establish the Polsky Center for Entrepreneurship, did not respond to a request for comment sent to his company, Invenergy LLC.