Singer R. Kelly’s foreclosed Olympia Fields home hit the auction block Monday — but reportedly remains in the bank’s hands.
The Grammy-winning R&B artist’s 22,140-square-foot mansion in south suburban Chicago was valued at as much as $5.2 million in 2009 and was appraised at $3.8 million in July 2011.
But, on Monday, the home was up for grabs at an opening bid of $950,000, as set by the mortgage-holding J.P. Morgan Chase, according to the Chicago Sun-Times.
The bank still owns the home’s mortgage because, as DNAinfo Chicago reports, no one else stepped up to buy it in the Cook County Sheriff’s public auction.
The bank claimed, in 2011, that Kelly owed more than $2.9 million on the foreclosed home and previous attempts at a short sale — with a price tag of $1.595 million were unsuccessful, NBC News notes.
The home features numerous amenities including an indoor pool room, a theater room and even a private lake on the 3.7-acre lot on which it sits.
Check out pictures of mansion…
Mansion Gate
Front View of Mansion
Rear Area of Mansion
Side View of Mansion
Front Patio
Kitchen
Dining Area
Living Room
Lawn Tennis and Basketball Court
Indoor Swimming Pool
Private Lake
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