CHICAGO — No one came forward Monday to scoop up the southwest suburban mansion that Chicago R&B star R. Kelly forfeited in foreclosure.
At a Cook County Sheriff’s public auction, J.P Morgan Chase Bank set the market for the custom-built 22,000-square-foot Olympia Fields estate at $950,000 — about $2 million less than what Kelly owes the mortgage lender, according to court papers. There were no bidders.
Kelly bought the property in 1999 for $1.5 million. He had the existing house torn down, and then built the six-bedroom palace with eight bathrooms and six half-baths on the wooded 6-acre lot.
He paid for the property, which includes a secluded lake, tennis court and indoor pool behind a 12-foot wrought-iron gate, with a $3.5 million mortgage.
In addition to the mortgage foreclosure, the federal government has two liens on the property that total $1.87 million, according to court records.
Kelly, who now lives in a 73rd floor condo in Trump Tower, could not be reached for comment Monday.