R. Kelly Mansion Loss: R&B Singer’s Chicago Mansion Auctioned Off By Bank At Huge Loss, Kelly Still Owes IRS $5 Million In Taxes

R. Kelly's Illinois mansion was a huge loss for the R&B singer. The mansion was auctioned off on Monday, March 18 for $950,000, much less than the $3.5 million mortgage that R. Kelly took out to build the mansion.

R. Kelly's former mansion is located in suburban Olympia Fields.

R. Kelly built his 11,140-square-foot dream mansion in 1997.

But, in 2011, R. Kelly's bank tried to foreclose, claiming Kelly hadn't made mortgage payments in over a year.

To block the foreclosure, Kelly, a Chicago native, attempted to sell his mansion for $1.5 million, but the house sat for a year.

Chase Bank, the owners of the property, then fully foreclosed the home, hence its cheap sale on Monday.

Chase opened up the bidding at $950,000 and submitted a single offer for the property, despite the estate's complete worth amounting to $5 million.

R. Kelly's former mansion has 6 bedrooms, 8 baths, an indoor pool, theater room and a private lake.

Kelly's former spokesman, Allen Mayer, denied that R. Kelly was financially in trouble.

Despite his claims, R. Kelly owes the government $5 million in back taxes, according to Hip Hop Wired.

R. Kelly isn't the only celebrity having foreclosure issues. Las Vegas singer Wayne Newton recently had the bank foreclose on his estate, and last week he was forced to sell his collection of exotic animals.

The safe-haven of Lindsey Lohan may not be safe for very much longer; the Long Island home of mother Dina Lohan is rumored to be facing foreclosure, as well.