BANKRATE - ...According to the foreclosure notice in the Chaska Herald, His Paisleyness bought the property in 1994 for $605,000. But you won't find him mixing tracks there these days; he leveled the place in 2005, leaving only the tennis court and gatehouse. The property is currently valued at $1.15 million. Prince's publicist denies the report. USA Today quotes a local legal firm as saying there is "a decent likelihood" that The Artist will send The Payment before The Auction. Given that Prince coughed up $1.3 million last year in current and delinquent property taxes on 14 parcels in Chanhassen, it would indeed seem unlikely that MLCKP would let the place go for a song. But it's a sign o' the times that even well-heeled celebrities have been drawn into the foreclosure undertow. A host of them have run afoul of the taxman lately as well...
What's the world coming to? Prince in foreclosure? If it can happen to him it can happen to anyone. Pretty soon we'll be readin' that Trump is bankrupt, that Warren Buffet's broke and that Bill Gates is sellin' pencils on the street. Yeesh.
