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Could McDonald's sell its real estate?

McDonald's all-day breakfast may have bolstered the chain's public perception and spiked optimism for higher sales in the fourth-quarter, but the restaurant still has a lot of ground to recover.

The company is close to deciding what, if anything, it will do with its massive U.S. real estate holdings, McDonald's board member Miles White told the Wall Street Journal on Thursday.

McDonald's confirmed the article's accuracy for CNBC. The company also noted that senior leaders will continue to discuss business strategy during the November investor's meeting.

McD's business model has always stressed the importance of owning its property, but steadily declining sales could prompt the burger giant to spin off its U.S. holdings.

McDonald's has yet to make a decision, but "we have had a lot of review and a lot of debate," White said in the interview.

An analyst from Morgan Stanley estimated that McDonald's real estate worth in the United States is $16 billion to $18 billion, according to WSJ.

Read the full article from the Wall Street Journal.