Keilor let slip the chance to seal top spot in Essendon District Football League premier division.
Facing another potential finalist in Greenvale, the Blues entered the match on the back of a 10-game winning streak.
It was a game worthy of a final, with neither side giving an inch all day.
Greenvale led at every break, but by no more than two goals. They had their noses in front at the final siren, claiming a 12.11 (83)-10.12 (72) victory.
Matthew Clark and Dean Galea kicked two goals apiece for the Blues.
North Melbourne VFL player Nash Holmes played his first game for the year for the Blues and was named their best, alongside Damien Cavka.
The Blues are still on top of the ladder, but now only percentage clear of Strathmore and Greenvale.
The Blues face Avondale Heights in the final round.
In division 1, Taylors Lakes finished its season on a high, but it wasn’t enough to move into the top four.
The Lions defeated Craigieburn, 20.15 (135)-8.15 (63).
The Lions finished fifth, percentage outside the top four.
Hillside, which had the bye, finished third. The Sharks will play Craigieburn in a knockout semi-final.
In division 2, Burnside Heights was on the wrong end of a thrashing against Roxburgh Park.
The finals-bound Magpies won 25.20 (170)-5.4 (34).
