Monday
December 22, 2014

Singer R. Kelly Lists Home as $1.6M Short Sale

|
-A A +A

Singer R. Kelly Lists Home as $1.6M Short Sale

The 22,000-square-foot Chicago home belonging to R&B singer R. Kelly is on the market for $1.595 million as a short sale. Kelly’s original loan in 1999 for the home was for $3.5 million, according to Zillow.

Kelly is also in the middle of a $2.9 million foreclosure lawsuit over the home, after he allegedly failed to make mortgage payments on the home for more than year in what some have referred to as a “strategic default,” according to media reports. The Chicago Tribune reports that Kelly did not make the payments because he was reportedly trying to get the lender to renegotiate his loan. 

The six-bedroom mansion includes eight full baths, six half-baths, four fireplaces, an indoor pool, theatre room, and a private lake outside. 

Source: “R. Kelly’s Olympia Fields Mansion Hits Market for About $1.6M,” Chicago Tribune (Dec. 13, 2011) and “R. Kelly’s Custom Mansion in Short Sale for $1.595 Million,” Zillow Blog (Dec. 13, 2011)

Read More:
Secret Real Estate Deals Grow Among Celebrities