Lawyers for Jackson, 48, who resigned from Congress in November 2012, submitted a court filing Friday saying the former official will sell the home to help satisfy the legal requirements, the Chicago Tribune reported.
Jackson "has been unsuccessful in his attempts to satisfy his forfeiture money judgment, and thus has agreed to sell the O Street property [in Washington], and to use the proceeds of the sale" to meet the obligation, the court filing stated.
Jackson and his wife, Sandi Jackson, both pleaded guilty to federal charges after they were found to have used $750,000 in campaign money on luxury goods including Rolex watches, furs, celebrity memorabilia and mounted elk heads. They also spent some of the money on lavish vacations, authorities said.
A U.S. Marshals Service auction had been planned to sell off some of Jackson's items to help meet his required forfeiture, but the sale was canceled due to questions about the authenticity of some items.
A federal Bureau of Prisons official said Jackson is expected to report soon to serve his 2 1/2 year prison sentence. Sandi Jackson was sentenced to serve one year in prison, to be served upon completion of her husband's sentence.