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R. Kelly’s Olympia Fields mansion auctioned for $950,000

This is a discussion on R. Kelly’s Olympia Fields mansion auctioned for $950,000 within the R. Kelly News & Announcements forums, part of the R. Kelly Discussion category; Update: What a strange turn events. They better petition to get those property taxes reduced. In 5 years they will ...

  1. #11
    Super Moderator Mista's Avatar
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    Update: What a strange turn events. They better petition to get those property taxes reduced. In 5 years they will have spent more on property taxes than the purchase price. Buying that big of a house at 74yrs old? Strange.

    R. Kelly mansion sells to Isley brother.


    The beat goes on at the 14,525-square-foot former R. Kelly compound in Olympia Fields, which sold recently for $587,500 to another noted musician.
    Rudolph Isley, the 74-year-old founding member of the R&B and soul group the Isley Brothers, and his wife, Elaine, have purchased the compound, which Kelly had owned from 1997 until he lost it to foreclosure in March.

    After spending 35 years with the Isley Brothers, Isley departed the band in 1989 to pursue a career in ministry. The group was inducted into the Rock and Roll Hall of Fame in 1992.
    “They wanted to move to Chicago because they have children and grandchildren here,” Alexander said. “We sent them multiple properties, and everyone was aware of R. Kelly’s mansion. They love the grounds and love the property, because it’s fenced in. They love the house and they’re going to rehab it.”
    Alexander said Isley does not know Kelly, although the remaining members of the Isley Brothers teamed up with Kelly for Kelly's 1995 hit "Down Low (Nobody Has to Know)," with one of Isley's brothers, Ron, playing a mob boss in the video for the song.
    Kelly built the 16-room mansion in 1997. It became the subject of a 2011 foreclosure lawsuit that alleged that Kelly hadn’t made monthly mortgage payments on it for more than a year.
    He listed the mansion in 2011 for $1.6 million in a short sale, which meant that he owed more on the property than it was worth. He cut its asking price to $995,000 in January but never found a buyer.
    After the mansion sold to its lender in a foreclosure auction in March, the bank listed the mansion in July for $618,000. It then reduced its asking price to $587,100 in August.
    Features include five full baths, four half baths, a full basement, two fireplaces, an indoor pool and a six-car garage.
    Listing agent Mark Groble of Century 21 previously told Elite Street that the mansion needs a significant amount of repairs. Before the bank took possession, the mansion was stripped of numerous items, including kitchen cabinets, counters and light fixtures. The 3.02-acre property also features a deteriorated basketball court.
    The property also carries a $132,000-a-year property tax bill.

    r. kelly chicago mansion sells to isley brother - chicagotribune.com

  2. #12
    Veteran Member Citizen K's Avatar
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    Very weird...

  3. #13
    Senior Member mistermaxxx's Avatar
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    you thinking another showdown with Mr Biggs and family. talk about this sounding like a soap opera and the crazy thing ROn i don't think is kicking it with his brother. ROn lives in St louis.

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