JPMorgan Chase & Co. (JPM) is contemplating a sale of 23 offices which could raise more than $1 billion. If the deal materializes, it will be the country’s largest office real estate sale so far in 2009.

The company might offer certain incentives like a sale-leaseback transaction to sweeten the deal in a challenging commercial real estate scenario where financing is difficult and values are constantly falling. However, since JPMorgan has not yet expressed any intentions of providing financing to prospective buyers, they may have to look elsewhere for funds.

Last April, Europe’s biggest bank HSBC Holdings Plc (HBC) planned to sell three landmark office buildings Incorporatedluding the Canary Wharf world headquarters in London, to raise more than $270 million in an effort to avoid a bailout from the UK government.

JPMorgan Chase & Co. provides a range of financial services worldwide. It operates in six segments: Investment Bank, Commercial Banking, Treasury & Securities Services, Asset Management, Retail Financial Services and Card Services.

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