​R. Kelly Home Sold In Chicago Foreclosure Auction​​

By: | 03/21/2013 09:04 AM ET

R. Kelly’s spokesperson say he isn’t having financial problems, but the R&B singer has lost his Chicago-area home for $950,000 in a foreclosure auction.

R. Kelly Home Sold

The “I believe I can fly” star owned the mansion in Olympia Fields, which is now owned by J.P. Morgan Chase.

Chase had already held the mortgage on the property and opened the bid at $950,000, then submitted the only offer.

The property once was valued at more than $5 million. Last year, Chase stated in court files that Kelly still owed about $3 million on the 11,140-square-foot home. Once a judge approves the deal, the bank can put it on the market.

Kelly’s business manager didn’t return a call from the newspaper. His one-time spokesman, Allan Mayer, says he can’t comment on the auction, but the Grammy winner isn’t having financial problems.