Education Queensland insists the individual circumstances at the Old Yarranlea School on Griffith University campus will be taken into account by consultants.
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The one-teacher school with 18 students is one of eight schools in Brisbane, the Darling Downs and Townsville that could be closed by Education Minister John Paul Langbroek.
The small school is on Crown Land, held in trust by Griffith University.
It was revealed in estimates hearings this week that the Education Department planned to raise more than $30 million from the sale of school land in 2013-14.
Parents have explained the history of the school as Queensland's only city school which offered "rural training" for teacher graduates.
Education Department regional director Chris Rider said the department understood each school had to be assessed on its own merits.
"The department recognises that each school is unique and that any analysis which is conducted centrally, may not provide the full picture of a school and its community," Mr Rider said.
A review of the eight schools is now underway by consultants, JTA Australia.
"JTA Australia have been engaged to ensure the community consultation process is independent, open and transparent," he said.
The community consultation closes on Friday.
The school operates under a formal agreement set up in in 1996 between the Education Department and Griffith University.
Old Yarranlea's principal, the school's parents and citizens association, and the university must be involved in any decision to close down the school.
