Wednesday, 20 March 2013

R.Kelly's $3.5 million Illinois mansion sold off for $950,000

R&B singer R. Kelly's mansion in Olympia Fields has been sold for $950,000 as part of ongoing foreclosure proceedings.The 22,000-square-foot home once valued for more than $5 million was sold to Monday to J.P. Morgan
Chase, who was the sole bidder, according to the Chicago Sun-Times.
Chase said in court papers last year that Kelly still owed about $3 million on the home, according to Huffington Post.

In December 2011, the home was listed for $1.595 million. The house on Maros Lane sits on three acres and has six bedrooms, eight full baths, six half-baths, an indoor pool and theater, the Sun-Times said.

Once a judge approves the foreclosure sale, Chase can file an eviction order and put the property back on the market.

Kelly's representatives didn’t comment for the newspaper report.

No comments:

Post a Comment