CHANNING, Texas—The century-old office building of a once-famous Texas Panhandle ranch that seemed headed to a new home may be able to stay where it is.

A $2 million hurdle remains despite the Texas Historical Commission on Monday announcing a $50,000 emergency grant to the nonprofit XIT General Office Association, a release from the historical group states.

That money and an equal contribution by Channing residents is enough to purchase the 1899 building to keep it in its original setting in downtown Channing.

But owner Lenny Sadler of Amarillo, who had plans to move the building to Lubbock so more people could see it, also wants a $2 million endowment to maintain the building in the future.

The Amarillo Globe-News has reported the $2 million endowment must be raised by Sept. 22.

Frank Davis, superintendent of schools in Channing, said supporters of the effort to keep the building in Channing are excited about the opportunity. Davis said coming up with the $2 million endowment in 60 days is “quite a challenge” but supporters are brainstorming to see how to get the word out on the effort.

In April, Sadler announced the office building would be dismantled brick-by-brick and reconstructed at the National Ranching Heritage Center in Lubbock.

If moved, the structure would lose its designation as a Recorded Texas Historic Landmark, the release states.

The ranch’s office, completed in 1899, was the site of financial transactions for what was the world’s largest range under fence. Two Chicago developers were given the 3 million-acre ranch when they agreed in the 1880s to build a new Capitol building in Austin for $3 million.

XIT used the office to liquidate assets and manage lands during the ranch’s heyday around the turn of the 20th century.

The building was occupied until 1912, when the ranch sold the last of its cattle. At its peak, the ranch had about 150,000 head of cattle.

The building was in disrepair in 1982 when Bill and Patricia Kirkeminde bought it and started restoring it.

In its day, the ranch was 30 miles wide and stretched across parts of 10 counties from the Oklahoma border to near Lubbock.

The last parcel of XIT land was sold in 1963, and the ranch’s last living cowboy, Ira Taylor, died in 1999.