Rudolph Isley of the Isley Brothers is the new owner of R. Kelly’s former Olympia Fields mansion, reports the Chicago Tribune.
The 74-year-old Isley and his wife, Elaine, recently purchased Kelly’s massive 14,500-square-foot home for $587,500—far less than the $1.6 million listing price in 2011, or the $5.16 million it was once worth.
The home is in “pretty bad” shape, however, with some estimating $500,000 worth of repairs needed.
J.P. Morgan Chase had previously purchased the property in March following Kelly’s foreclosure.
Your turn: Did Isley get a fair deal?