R&B singer R.Kelly’s Chicago-area mansion  has been sold for $950,000 in a foreclosure auction.  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. 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. 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 73^rd floor condo in Trump Tower, could not be reached for comment Monday.

via:theurbandaily.com