HOUSING CRISIS: R. Kelly’s Chicago MANSION Sold Off In FORECLOSURE For $950K

R. Kelly’s famed-Chicago mansion was sold off in a foreclosure for $950K.  Find out who holds the keys to his front door inside….

R. Kelly is finally free of his troubled Olympia Fields mansion (outside of Chicago, IL), which had been facing foreclosure for a few years.  Fox News reports that the 11,140 sq. ft. mansion was sold off to J.P. Morgan Chase for $950K (they already held the mortgage).  Once a judge approves the deal, the bank will be allowed to put the home back on the market.  

But it’s interesting that home was ever foreclosed on in the first place.  With a string of publishing credits, writing credits, hit albums and sold-out tours, R. Kelly shouldn’t have a cash flow problem.  Perhaps he just wanted to quickly walk away from the home that holds so many "videotaped" memories from his past.  

Meanwhile, the "Trapped In The Closet" singer is still working on getting his saga to Broadway (after its successful run on the IFC Channel). We’ll keep you posted.