North Tyneside Council has commissioned the North of England Civic Trust to investigate the possibility of a major restoration job on the grade II*-listed Tynemouth Station.
The Victorian building - which was designed by the chief architect of Northeastern Railways, William Bell, in 1882 - has been standing in a state of disrepair for years.
A previous bid to see the station returned to its former glory was only partially completed before funding ran dry.
But council bosses have now persuaded regeneration agency One North East to cough up £40,000 to fund the study.
Around 60 per cent of the station has been restored, but 16 of the wrought-iron, glazed roof canopies have yet to be tackled and are deteriorating.
The overall aims of the study are to provide accurate costs for high-quality restoration, make suggestions to develop and sustain the station as a landmark building, and explore options to keep the building sustainable.