R. Kelly Home Sold at Auction for $950,000

R. Kelly home sold: The former home of R. Kelly was sold for far less than what it was originally worth.
R. Kelly Home Sold at Auction for $950,000
R. Kelly performs at MSG Theater on Nov. 21, 2012 in New York City. (Jason Kempin/Getty Images)
3/18/2013
Updated:
10/1/2015

R. Kelly home sold: The former home of R. Kelly was sold for far less than what it was originally worth.

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A Chicago-area mansion that was owned by singer R. Kelley was sold at an auction on Monday for $950,000, it was reported.

The mansion, located in suburban Olympia Fields, was being foreclosed on when it was sold. The 20,000-square-foot home was worth more than $5 million before its value dropped, reported NBC Chicago.

Kelly is said to have failed to make mortgage payments on the property before the mansion went into foreclosure, with. J.P. Morgan Chase claiming  he owed them more than $2.9 million on it.

The home has eight full bathrooms, six half baths, four fireplaces, a pool, a theater, a man-made lake, and other amenities.

DNAInfo.com reported that Kelly, who now lives in the Trump Tower, bought the property in 1999 for $1.5 million and had the existing property torn down and then built the current mansion.

Former Kelly spokesman Allan Mayer told The Associated Press that he cannot comment on the auction but stressed that the singer isn’t having financial problems.

However, last year, the Chicago Sun-Times reported that Kelley owed the Internal Revenue Service nearly $5 million in unpaid taxes dating back to 2005.