Olympia - R. Kelly Set To Lose Chicago Home
R. Kelly is facing a $2.9 million foreclosure on his mansion in Chicago after failing to pay his mortgage.
R. Kelly is facing a foreclosure on his mansion in Chicago.
The 'I Believe I Can Fly' hitmaker has had a foreclosure filed against him for $2.9 million by JPMorgan Chase Bank, who claim he hasn't made a monthly mortgage payment on the property since June 2010.
According to Crain's Chicago business news, the home - which is based in the Olympia Fields suburb of the city - has lost 26 per cent of its value in 2009, plummeting from $5.2 million to $3.8 million.
A source close to the singer claimed he stopped making the payments on the house in order to force the bank to negotiate the loan on the property, which sits on a 3.7 acre lot and features six bathrooms and a four-car garage.
His spokesman Allan Mayer declined to comment on the foreclosure but revealed he was not in any financial trouble.
It is not the first time R. Kelly - real name Robert Sylvester Kelly - has found himself in trouble relating to the home.
In 2006, he was sued by local residents for keeping tour buses and dogs on the property, and he was forced to demolish a guardhouse he had built because he had not obtained prior permission.