R. Kelly's Suburban Mansion Hits Market After Foreclosure Suit (PHOTOS)

Grammy-winning R&B artist R. Kelly's 11,140-square-foot Olympia Fields mansion in south suburban Chicago is newly on the market.

The Chicago Tribune reports that the gated home has been listed for a short sale at the price of $1.595 million. That price is an "incredible value" according to listing agent James Mattz of Century 21 Pro-Team, who described the home as having numerous amenities including an indoor pool room, a theater room and even a private lake on the 3.7-acre lot on which it sits.

Kelly, whose real first name is Robert, faced a $2.9-million foreclosure lawsuit on the mansion in July after the singer stopped making mortgage payments in an apparent attempt to force the bank to renegotiate its loan with the star.

The home, constructed 11 years ago, has seen its value plummet in recent years. Worth $5.2 million in 2009, the home was last appraised at $3.8 million as of July.

Kelly's former mansion in Chicago's Lakeview neighborhood was also on the market not too long ago, selling for $2.64 million, 30 percent lower than its original $3.89 million asking price, in August. That home is where the singer allegedly filmed a sex tape with an underage girl. A jury in his 2008 child pornography trial found Kelly not guilty on all the 14 charges he faced related to the incident.

Take a look inside the Olympia Fields home here. All photos courtesy of Zillow, where you can see the listing in its entirety.