R. Kelly Takes Major Loss on Mansion Auction

The singer's dream home is sold way below asking price.

Posted: 03/19/2013 04:30 PM EDT
R. Kelly

The Illinois mansion that R. Kelly spent $3.5 million to construct was reportedly auctioned for $950,000, well below its $5 million value. According to reports, the "Trapped in the Closet" star hadn’t made payments for the property in over a year and tried to sell it in order to prevent foreclosure. The home the singer mortgaged in 1997 was seized by Chase Bank and auctioned off on Monday after Kelly failed to sell it for his $1.6 million asking price.

Kelly’s mansion stretches 11,140–square-feet and was built from the ground up. Six bedrooms, eight baths, a theater room, an indoor pool and a private lake occupy the estate.

Kelly has yet to publicly address the sale of the home, but his former spokesman Allen Mayer assures that he is not low on funds despite the $5 million he owes the government in taxes.


Get ready for the BET Experience, featuring BeyoncéSnoop DoggR. Kelly,  Erykah BaduKendrick Lamar and many more. Go here for more details and info on how to buy tickets.

BET.com is your #1 source for Black celebrity news, photos, exclusive videos and all the latest in the world of hip hop and R&B music.

Click here to subscribe to our newsletter.  

(Photo: Ben Gabbe/Getty Images)

Articles You May Like

From Our Partners