Andreas Gursky's monumental Paris Montparnasse is expected to make £1m-1.5m ($1.5m-2.3m) at Sotheby's Contemporary Evening Sale on October 17 in London.
Taken in 1993, the photograph is among the earliest digitally manipulated images made by the artist - now considered a hallmark of his work.
It shows Jean Dubuisson's Mouchotte Building, the largest residential dwelling in Paris and a landmark work in the history of post-war brutalist architecture.
The image was made by combining two photographs into a single composition, giving the impression that the building is far larger than it actually is.
Alex Branczik, Sotheby's head of contemporary art in London, commented: "With this magisterial work, Andreas Gursky stretches the concept of photography to its outermost limits and cements his standing as one of the greatest commentators on the way we live today.
"Technically, this work is a lynchpin of his practice. Here we see the linear abstract composition that would become such a hallmark of Gursky's photography, combined as always with an unmistakeable painterly quality in his use of colour and form.
"Standing in front of this epic work you are consumed by the sheer scale and scope of his vision."
Gursky is among the world's most celebrated contemporary photographers, and this is reflected in the price of his work.
He is the current record holder for the most valuable photograph ever sold - his Rhein II achieved $4.3m at Christie's in 2011.
Earlier this year Chicago Board of Trade III sold for £2.2m ($3.3m) at Sotheby's London - up 169% on its £800,000 ($1.2m) high estimate.
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