Modric appeared to be open the idea of trading Madrid for Milan at one stage, but saw his current club rule out any sale.
That stance was taken over the summer, as the 33-year-old helped his country to the World Cup final.
Those exploits have made it even more difficult for Inter to prise Modric away from Spain, but sporting director Piero Ausilio is ruling nothing out.
He told Sky Sport Italia of interest shown over the summer: “I didn’t believe it until the end, but at the same time I don’t see why you can’t dream.
“All I said last summer was: ‘We’re here, if Real Madrid think they can make this happen then let’s talk about it’.
“We did not feel like starting a negotiation because we knew what our chances were.
“Could we go again or has the dream ended? We’re talking about very important players with huge quality, but you can never say never in football.”
While the Nerazzurri remain hopeful of one day bringing Modric onto their books, the player himself may have dashed those dreams.
He told reporters at an awards ceremony in Zagreb: “My personal goal and big wish is to finish career in Real Madrid, that would be the ideal scenario.
“But to achieve that, I have to stay capable of playing at the top, at the highest level. That is not going to be easy.”
Modric’s current contract in Madrid is due to run until the summer of 2020.