R. Kelly’s Illinois mansion fell into foreclosure and was auctioned off for $950,000 Monday (March 18), well below the $3.5 million it cost him to build the property. The Chicago native failed at his attempts to stop the bank from taking ownership of the home.
Chase Bank—the owner of the property—opened the bidding at $950,000, and submitted a single offer, despite the value of the entire state being set at $5 million.
The home covers 11,140 –square-feet and features six bedrooms, eight baths, a theater room, an indoor pool and a private lake.
According to Chase, Kelly still owned the home as of last year . He tried unloading the mansion for $1.6 million to stop the foreclosure but was unsuccessful.
Kellz purchased the land in 1997, and had the sprawling estate built from scratch. He has not yet publicly responded to the sale, but his former spokesman, Allen Mayer, denied that the hitmaker is financially strapped.
Despite an estimated $150 million net worth, the singer has had his share of money issues. He owes the government $5 million in back taxes.
See photos of the home below.
Photos: Sony/ TMZ/ HuffPo