The former Keighley College building in North Street could be knocked down by next April, says a councillor.
Coun Andrew Mallinson claims Bradford Council will be forced to demolish the derelict building if it is not sold soon.
He revealed the Council had set aside money in this financial year for the demolition.
He said: “By December the decision will have to be made. It will require planning consent because it’s in a conservation area and there has to be evidence that nobody has come forward with a good scheme.”
The council-owned building has been empty since 2010.
A council spokesman said potential buyers showing an interest ranged from entrepreneurs to large companies.