Bank Forecloses on Dwyane Wade's Suburban Home

Documents show payments not made on South Holland home owned by Wade and his ex-wife since November 2013

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    NEWSLETTERS

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    Dwyane Wade

    Miami Heat star Dwyane Wade makes millions of dollars a year playing basketball, but it appears that money hasn't been going toward his home in Chicago's south suburbs.

    According to documents obtained by NBC Chicago, The PrivateBank and Trust Company is attempting to foreclose on Wade's $1.2 million home in the 1600 block of E. 158th Street in South Holland.

    Wade is listed as the owner of the home, along with his ex-wife Siohvaughn Wade. The former couple engaged in a bitter, public divorce in the which the basketball star was granted custody of their children.

    According to court documents, the former couple owes almost $541,000 on the home, including close to $1,500 in late charges, and monthly mortgage payments had not been made on the home from November 2013 to July 2014.

    Wade's attorney's sent a statement Wednesday. 

    "Dwyane Wade and his ex-wife Siohvaughn Funches reached a financial settlement in July 2013, which included Ms. Funches being awarded the Chicago home in which she resides.  Mr. Wade had provided a very generous settlement to Ms. Funches to continue to live a wonderful lifestyle and maintain the home mortgage payments he previously paid before the settlement was reached. As the sole homeowner, Ms. Funches defaulted on the mortgage and the home is now under foreclosure with the bank. We will take the necessary measures to affirm Mr. Wade is not responsible for the home’s foreclosure since he was absolved of all financial responsibility when Ms. Funches was awarded the house.”

    The 7,847 square foot home has six bedrooms, eight bathrooms, a theater and exercise room, a guest house, in-ground pool and of course, a basketball court.

    Siohvaughn Wade is believed to be the occupant of the home.

    Wade is now engaged to actress Gabrielle Union.