CHICAGO (AP) -- R&B star R. Kelly's Chicago-area mansion has been sold for $950,000 in a foreclosure auction.
The Chicago Sun-Times reported 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, which was submitted as the only offer for the estate.
Last year, Chase stated in court files that Kelly still owed nearly $3 million toward the 11,140 square-foot home. The property was once valued at more than $5 million. Once a deal is approved, the bank can place the home on the market.
Kelly's business manager was not available for comment. His one-time spokesman, Allan Mayer, says he can't comment on the auction, but the Grammy winner isn't having financial problems.
Kelly was acquitted of child pornography charges in 2008.