It's worn many hats since it was built it in 1897 but the Old Creamery Building in Okotoks will soon be coming down.

Most recently the building was the Bull Pen pub and office spaces but with a  fire and the build up of asbestos Town CAO Rick Quail says there was no chance for the building to be saved.

"There was extensive structural damage after that recent fire, asbestos has also been discovered in the building, so the town's insurers indeed are recommending that we mitigate possible issues arising by containing and removing the asbestos immediately."

The town recently bought the lot on 35 Riverside Drive for over a million dollars last year and will begin tear downs as soon as possible.

Quail says they have some proper safety steps with the asbestos to take first before demolition of the building.

"That's the reason they have to actually remove the asbestos before they actually commence the tear down," he says. "So from a safety point of view they'll take care of that in advance of it's actual knock down, the public just simply needs to stay off the site."

When asked if there was future for the former Creamery Building site Quail says it will go through a diligent process before the town comes up with a decision on the plot of land.

"The developed portion where the parking lot and building is right now will serve and under the flood plane policies is eligible for re-development as it's located in the flood fringe however future use of that site will be determined by council in due course."

Council will be begin discussions and have open seminars to the lot's future in the coming weeks.