R. Kelly Loses Chicago Home To Foreclosure

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    The Chicago Sun-Times reports that Kelly’s Olympia Fields home was sold Monday to J.P. Morgan Chase, which already held the mortgage. Chase set the opening bid at $950,000, then submitted the only offer. http://tinyurl.com/cg7bup2

     

    The property once was valued at more than $5 million. Last year, Chase stated in court files that Kelly still owed about $3 million on the 11,140-square-foot home. Once a judge approves the deal, the bank can put it on the market.

    Kelly’s business manager didn’t return a call from the newspaper. His one-time spokesman, Allan Mayer, says he can’t comment on the auction, but the Grammy winner isn’t having financial problems.

    Kelly was acquitted of child pornography charges in 2008.

    Read more http://newsone.com/2291918/r-kelly-foreclosure/

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