Time is ticking down to save the Eamon's building, a 1950s era gas station that will be demolished without a purchaser.

The Roy Eamon Cultural and Heritage Society is aiming to raise $400,000 before the mid-September deadline.

Bob Everett

Bob Everett hopes to save a iconic Calgary gas station now sitting in storage, but his group is running out of time. (CBC)

"Walking away at this point is wrong," said Bob Everett, who runs the society. "We'll raise the money, we'll restore the building and we'll turn it into a '50s diner that will benefit everybody."

Everett hopes Calgarians will help by paying $20 to have one of their own artist's renderings of the gas station. 

The city is currently paying to store the building. Everett's group hopes Eamon's could be returned to its original site ā€” the Tuscany Park and Ride, already home to the iconic "Eamon's Bunglow Camp" sign.

Scott Jolliffe, chair of the Calgary Heritage Authority, says Everett has his work cut out for him

"It is unprecedented to raise those kinds of funds through crowdsourcing for a development opportunity, but good for them for trying. Maybe it's possible."

Ward Sutherland, the councillor for the area, says it's costing the city $1,100 a month to store the building.

"Unless there's a full commitment for the cash to do it, then we simply can't do it. It's just not the right thing to do and it's not a good use of taxpayers' money."