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R. Kelly Loses Millions on Mansion Auction

Mar 19, 2013 | 10:30 PM    Written By: John S
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R. Kelly's Illinois mansion was auctioned off Monday, and the R&B singer took a massive loss on the sale.

Kelly build the 20,000-square-foot home back in 1997 and took out a $3.5 million mortgage on the property. However, things went downhill in 2011 when his bank tried to foreclose, claiming he hadn't made a payment for over a year.

Kelly attempted to sell the home for $1.6 million to stop the foreclosure, but the tactic didn't work. The house sat for a year before the bank intensified their effort to foreclose the home -- it sold Monday for $950,000.

The opulent residence has six bedrooms and eight baths, and features an indoor pool, theater, and private lake, among other amenities.

Source: tmz.com

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