R. Kelly’s recently foreclosed home has dropped from a height of $5 million to $587 thousand. This bank-owned home was built in the 1990s at the peak of R. Kelly’s career, but now it looks more like a ski lodge for rodents than a castle for a star.
Clearly, R. Kelly scarified the quality of his materials to make the house appear larger from the outside. The interior designer should have been hanged. It is absolutely atrocious–the color scheme and pressed wood is more suited for a Motel 6 than a multi-million dollar mansion. Anything of value including furniture, electronics, even the marble from the floors has been stripped, leaving it a breeding ground for vermin.
Complete with a reeking pond and a dilapidated tennis court, this home is truly an eyesore for the surrounding Chicago suburban community. Many of the neighboring homeowners are sadly realizing that the longer the house remains unsold, the more it will affect the values of the other houses in the area.
The most pitiful part of this situation is this estate will cost far more to renovate than it’s worth. It could take years for the home to sell again, most likely when the price is embarrassingly low. It will probably be demolished and built from the ground up by the next property owner.
Overspending and mismanagement of finances are suspected to be the reason why R. Kelly went bankrupt. According to an inside source, R. Kelly simply didn’t make payments on the house, and still owes $3 million. The fate of this home remains unknown, and it hardly likely that it will be sold any time soon.