Dublin City Council has issued a letter to businessman Martin Keane, seeking repossession of the Iveagh Markets.
Mr. Keane has failed to develop the Edwardian structure and the council has given him until the end of the month to remove his possessions from the building.
The market opened in 1906 but the last of the stalls closed in the 1990s and the market has been derelict for over 20 years.
An Taisce has stated that the building is "suffering from neglect and/or poor maintenance", and that the level of risk associated with the structure is "critical."
The council is threatening to change the locks and take possession of the market building.
The council says it will refund the €2 million Mr. Keane paid for a leasehold title.