R. Kelly's south suburban Chicago mansion, once valued at $5.16 million, has been sold for just $950,000 in a foreclosure auction. That's according to the Chicago Sun-Times, which reports that J.P. Morgan Chase -- which held the mortgage on the Olympia Fields home -- made the only offer on the posh pad.
The bank held the mortgage on the estate, which as previously reported, features six bedrooms, eight full baths, six half baths and four fireplaces, according to a real estate listing. In 2011, Chase filed a $2.9 million foreclosure lawsuit against Kelly, saying he hadn't made monthly mortgage payments on the home since June 2010. According to earlier reports, the singer withheld payments on the mansion in an attempt to get his lender to renegotiate the loan.
The home went up for auction on Monday, and once a judge signs off on the transaction, the sheriff's office can evict any tenants in the home.
Copyright 2013 ABC News Radio