EXHIBIT 23(i)(4)
   
July 24, 1997     
 
                           CONSENT OF MERRILL LYNCH
   
  We hereby consent to the use of our opinion letter dated April 22, 1997 to
the Board of Directors of CB Commercial Real Estate Services Group, Inc. and
our letter dated June 6, 1997 to CB Commercial Real Estate Services Group,
Inc. included as Appendix 3 to the Proxy Statement/Prospectus which forms a
part of the Registration Statement on Form S-4 relating to the proposed merger
of Koll Real Estate Group with and into CBC Acquisition Corporation, a wholly
owned subsidiary of CB Commercial Real Estate Services Group, Inc. and to the
references to such opinion and letter in such Proxy Statement/Prospectus under
the captions Summary and Opinion of Financial Advisor. In giving such consent,
we do not admit that we come within the category of persons whose consent is
required under Section 7 of the Securities Act of 1933, as amended, or the
rules and regulations of the Securities and Exchange Commission thereunder,
nor do we thereby admit that we are experts with respect to any part of such
Registration Statement within the meaning of the term "experts" as used in the
Securities Act of 1933, as amended, or the rules and regulations of the
Securities and Exchange Commission thereunder.     
 
                                          MERRILL LYNCH, PIERCE, FENNER &
                                                SMITH INCORPORATED
 
                                                 
                                          By:   /s/ Victoria K. Collison
                                             ---------------------------------