A mansion once owned by disgraced R&B singer R. Kelly in south suburban Chicago is back on the market for a deeply discounted $1.75 million.
Elaine Isley, widow of Isley Brothers singer Rudolph Isley, reduced the price of the estate at 1 Maros Lane in Olympia Fields to $82 per square foot, about half the price it listed for a year ago, Crain’s reported. Alex Wolking of Keller Williams ONE Chicago is handling the listing.
Built for Kelly in 1997, it later fell into severe disrepair. The Isleys purchased the mansion for $587,500 ($28 per square foot) following foreclosure in 2013. They fully renovated it and lived there for 10 years.
The 21,200-square-foot property, just 33 miles from downtown Chicago, has hosted Grammy winners, Rock & Roll Hall of Famers and influential figures in business and politics.
The two-story mansion features an expansive layout with high-end finishes, soaring ceilings and custom details.
One of the estate’s most striking features is its indoor two-story pool, which includes a waterfall, a grotto, a clubhouse and a two-story treehouse. Other amenities include a mother-in-law suite with a kitchenette, a home theater, a full-service diner and a fitness center.
The property also boasts a multi-sport court, resurfaced for basketball, tennis and pickleball, along with a six-car garage designed for showcasing classic or luxury vehicles.
Developers considering the property must factor in Cook County’s tax structure, which has complicated the sale.
“Our biggest challenge has been the quarter-million dollar tax bill,” Wolking said. “When people see that tax bill, it’s a non-starter. If it weren’t for that tax bill, I would have sold this months ago, for a lot more money.”
Although the assessed value has been lowered from $4.4 million to $2.5 million, the tax reduction will not take full effect until the second installment of last year’s bill, due in August.
In the meantime, the first installment, payable in March, is based on the prior assessment.
— Andrew Terrell
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