One of three sons of 1969 premiership player Mike, Bowden made his way to Punt Rd from Mildura via Alice Springs, and won back-to-back best and fairest awards in 2004 and 2005, and was All-Australian in 2004 and 2006.
Bowden has twice been the hero for the Tigers in recent weeks – in round 16 by controversially stepping back through the goals to rush behinds to win the match against Essendon, and then a week later by kicking the winning goal against the Lions.
Wallace said the 30-year-old was a prototypical Tiger.
"He's been a great player for this club – dual best-and-fairest winner, he's a heart-and-soul person of the footy club with his history and his heritage at the club," he said.
"Obviously on a 250-game milestone, we'd love to do the right thing by him, and to be able to open a door up for what might be a finals opportunity would be a fantastic way for our club to celebrate his milestone."
But at the pointy end of the season, Wallace admitted that "doing the right thing" was a fond wish that shouldn't have any bearing on the outcome of the game, milestone achievement or not, especially given that dual Norm Smith medallist Andrew McLeod is playing his 300th for the Crows.
"If you're talking of round six, you're in May, and you've got someone playing a 300th game, I reckon it can make a difference because it just makes sure that your blokes are on. You say they should be always on, but you absolutely make sure when it's still a long season and it's not the definitive part of the season, that blokes are right on their mettle.
"But at this stage of the year, if you're not right on your mettle when you're playing for finals opportunities, I think we'd be kidding ourselves.
"From that point of view, I don't think it makes a great deal of difference in the later part of the season.
"We also know that the other mob have got a bloke playing 300 games as well, so that's another story.
"Obviously they'll want to do the right thing, we'll want to do the right thing . . . one of two clubs will."