R. Kelly Selling Off Home Facing Foreclosure

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December 13, 2011 | 6:00pm EST

R&B icon R. Kelly has placed his Chicago, Illinois home on the market after he was threatened with foreclosure.
The I Believe I Can Fly hitmaker faced losing the property in June after defaulting on his mortgage with JPMorgan Chase Bank.

Bank bosses claimed Kelly had stopped making monthly payments on the suburban property in the summer of 2010, prompting them to take action.

But Kelly has now decided to sell off the gated home and has placed it on the market for just under $1.6 million , according to the Chicago Tribune.

The house is just one financial problem facing the singer – earlier this year, he was hit with a tax lien for $837,000 .