Real Estate Marketing & Beyond
R.Kelly lists mansion as short sale. Image courtesy andrew steinmetz
R&B singer R. Kelly has listed his 22,000 sq ft. Chicago mansion on the market as a $1.595 million short sale. According to a report in the Chicago Tribune, Kelly had originally taken out a $3.5 million loan on the home, back in 1999.
R. Kelly’s home troubles began back in the summer, when he was first hit with a $2.9 million foreclosure suit. Now it’s being reported that Kelly has decided to wash his hands of the home altogether, packing up and moving out, and stopping payments on the loan.
Built in 1997, the R.Kelly mansion is surrounded by a private, wooded estate and protected by a 12-foot tall concrete wall. Amenities in the home include such luxuries as a jungle-theme indoor swimming pool, a movie theater room, a huge kitchen and a private lake outside.
Kelly has already had one home on the market this year, selling off his 8,000 sq ft. Lakeview mansion last August in a deal that was reportedly worth $2.74 million.
The R&B star is no stranger to legal issues either, perhaps one reason why he doesn’t appear to be too fazed by the foreclosure lawsuit. Back in 2008, Kelly was cleared of charges relating to child pornography, and only last month it was reported that Kelly’s former manager was suing the star, accusing him of fraud and breach of oral contract.
