Masons are proposing to buy back a part of Bradford's heritage in a bid to keep their historic links with the city.
English Heritage has given listed building status to the Connaught Rooms in Manningham Lane.
The building has been deemed a "particularly important building of more than special interest" and gained Grade II listing.
The rooms could now also be eligible for English Heritage grants for urgent repairs.
The Connaught Rooms was one of few buildings in England built specifically for the masons.
Opened on September 29, 1928, the rooms housed 30 Masonic organisations at its peak. In 1989, however, due to falling use and increasing cost the building was sold to property developers.
Running costs were rising, and the building with its fittings was deteriorating.
To meet the latest standards of safety and hygiene was becoming very expensive and membership began to decline.
The Masons maintained their link and leased the top few floors for their own use.
They are now planning to buy the building back to maintain the Masonic heritage.
A report by English Heritage on August 5 describes the interior and exterior features of the building, including details of marble lined walls, chequered floors and original Masonic fittings.
The building also boasts one of the first sprung dance floors with a balcony, dining room with chandeliers and stained glass windows.
John Stead, of the Masons in Bradford, said the organisation was keen to prevent changes to the building.
He said: "Anything other than being retained as it is would be vandalism.
"So many of Bradford's old building have been demolished, such as Swan Arcade, and Rawson and Kirkgate markets.
"Connaught Rooms is another building that is part of Bradford's heritage and every effort should be made to keep it."
The Masons are now trying gain money through lottery grants and private funding to buy the building back.
Brian Kunz, of Wharfedale Finance, which owns the property, declined to comment.
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