The Chicago Tribune reports that 74-year-old Rudolph Isley and his wife purchased the house in Olympia Fields. It's more than 14,000-square feet with an indoor pool, six full bathrooms, seven half-baths and a six-car garage.
Kelly lost the home to foreclosure. The Isleys have family in the Chicago area, which is why they wanted to move here.
The property once was valued at more than $5 million.
Last year, J.P. Morgan Chase -- which bought the house in March -- stated in court files that Kelly had owed about $3 million on the home.