R. Kelly just took a pretty big L on his former Chicago home, only getting $950k of his asking price of $1.6 million…on top of the fact that the actual mortgage was $3.5 million to begin with! Kelz built the 20,000-square-foot crib in 1997, but apparently stopped paying the mortgage in 2010, and it was foreclosed on by the bank in 2011.
The house has is REALLY dope too, with 6 bedrooms, 8 baths, an indoor pool, theater room and private lake. Check out the photos in the gallery! For now, the house belongs to the bank, who will then re-sell it.
Source: TMZ
