JP Morgan Chase is marketing 23 office properties across the nation in an effort to rid itself of excess space. But the bank's timing, amid the worst property market in decades, means any sale is likely to come with sizable concessions.

The portfolio of properties for sale, with a combined 7.1 million square feet of space, includes four notable towers: One Chase Manhattan Plaza, near Wall Street; Four New York Plaza, also in the Financial District; the former headquarters of Washington Mutual in a downtown Seattle skyscraper that also houses the city's art museum; and a landmarked 1929 Art Deco building in Houston, the former headquarters of Texas Commerce Bank.