Real Estate
R. Kelly's Former Mansion Slated to Close
The mammoth Olympia Fields home is in "pretty bad" shape, according to Chicago Real Estate Daily.
Six months after Grammy Award-winning singer R. Kelly lost his Olympia Fields mansion to foreclosure, the bank-owned property is now under contract, according to Chicago Real Estate Daily.
The five-bedroom, 14,525 square-foot monster home is set to close Oct. 14 near the current asking price of $587,100. That compares to an initial listing price of nearly $1.6 million in 2011.
What's not included in the price, is the estimated $500,000 needed for home repairs, as the mansions is in "pretty bad" shape, according to the report.
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