In another sign of strength for banks burdened with bad real estate assets, Chemical Banking Corp. on Friday said it sold one of its biggest pieces of foreclosed real estate at 80% of book value.

The nation's third-largest bank company said it sold a 725,800-square-foot shopping mall in Montgomery, Ala., to Heitman Financial Services Ltd., a Chicago-based investor group, for more than $40 million.

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