March 25, 2013
R. Kelly’s Chicago Mansion Foreclosed and Sold at Auction
Last week, R. Kelly’s home went up for auction as part of an ongoing foreclosure proceeding, the Chicago Sun Times reports.
Kelly’s lender on the property, JP Morgan Chase, offered the only bid of $950,000.
The 22,000-square-foot Olympia FieldsÂ House on Maros Lane, was built in 1997, and has six bedrooms, eight full bathrooms, six half-baths, an indoor pool and theatre and sits on 3 acres with a private lake in theÂ Maynegaite Woods subdivision.
In March 1999, Chase gave Kelly a $3.5 million mortgage but he still owed $2.9 million on it back in 2011, according to court filings.
Read more at Chicago Sun-Times