Blagojevich says he understands he could lose home

By the Associated Press | July 15, 2011 | 1:29 PM EDT

CHICAGO (AP) — Former Illinois Gov. Rod Blagojevich has told a federal judge he understands he could lose his home if he violates the conditions of his bond.

Blagojevich's appearance in court Friday was his first since being convicted last month of corruption, including trying to sell President Barack Obama's old Senate seat.

Judge James Zagel set bond at $450,000, which is secured by Blagojevich's Chicago home and a condo in Washington, D.C.

Blagojevich's attorney revealed that he is trying to sell the Chicago home, and said that as of Friday, all paperwork related to the properties had been filed. Prosecutors had complained that not all the documents were turned in.

Blagojevich does not have a sentencing date. Legal observers say he is likely to go to prison for around ten years.