R. Kelly Loses Money At Mansion Auction
Posted by Joseph Lee on 03.19.2013
It was sold for less than it was worth...
TMZ reports that R. Kelly's Illinois mansion was auctioned off yesterday for $950,000, less than the mortgage of $3.5 million he took out to build it.
He built the 20,000-square-foot home in 1997 but then the bank tried to foreclose in 2011, claiming he didn't make mortgage payments for over a year. He tried selling it for $1.6 million to block the foreclosure but it didn't happen. The bank foreclosed and sold it for $950,000.
It has six bedrooms, 8 bathrooms, an indoor pool, theater room and private lake.