With its iron frame, the flaxmill is considered as the direct forerunner to the skyscraper and project officer Fay Bailey said it was of "international significance".
The Grade-I listed Ditherington FlaxMill was the world's first iron-framed building and is considered one of the most important on the English Heritage At Risk register.
Alan Mosley, Chair of the Friends of the FlaxMill, described the HLF support as "tremendous news" and said the next phase of work at the site would "protect the heritage and rejuvenate the area".