I leave mine in the sink, or in the dishdrainer beside it.

You can save a spot for sponges and brushes in the dishwasher and just store them there. They even stay clean that way. I have a long low flowerpot for assorted sink stuff (bonsai planters aren't bad). And a sink grid is useful--my dishsoap is often down there, sometimes with a sponge.

I didn't have luck getting suction cups to stick to my stainless steel sink, but after seeing a magnetic holder from Elkay (really expensive!) I tinkered with magnets and suction cup baskets sans suction cups. I'd recommend the Elkay product. :P

Sink paraphernalia is one of the reasons I installed the dreaded terribly dated two-tier island.

I bought a silicone potholder from the dollar store, cut air holes in the bottom and sides (use a razor to make pretty shapes on the side) and put it over the sink divider. Sponges, brushes and potholder can go in the dishwasher for easy cleaning. The suction cup baskets work too, but I found I knocked them off a lot. This one is a little more compact.

I got the Elkay Sinkmate kit and it works great. I think I bought mine on Amazon.
http://www.elkay.com/sinkmate

My sink had false drawer trim across the front. DH bought the under $20 flip drawers and installed them behind the false front. My wasn't one let alone $2000. It has three compartments two of which I can lay a jelly roll pan flat in. LOVE IT!!

I have the suction cup wire basket on mine. At time it doesn't stick right but mostly it works fine. I love Marion's soap pig!

Arcy in my last kitchen I had the false drawer with a 3 part little insert (sponge, maybe brush or steel wool) but it was no way big enough for a pan. Curious if you can link what you have?

I put everything under the sink when not in use or in the flip out storage space in front of the sink. Also don't use sponges much except the scrubby kind for pots/pans.

Rachiele sponge caddy - they make them in custom sizes to fit non-Rachiele sinks too

Marion --- love the pig! Reminds me of the towel pig discussed on this site.