President Seamus Reilly says it would house the college's programs in natural science, health care, and dental hygiene.
"Partly it's an end of life issue for the original buildings on campus which were built in 1969, and partly it's a response to the growing need for the workforce in terms of health care professionals."
Dr. Reilly says there's already a high demand for people trained in these professions.
"We're currently in spaces which we're not quite outgrowing yet but they're certainly not at the level which we need them to be, and so this will allow us to grow and expand in those programs. But more importantly to provide excellent teaching and learning facilities for our students and faculty."
He thinks this is a good time for Carl Sandburg College to start this project - the college is financially strong and will NOT need to raise property taxes to pay for it. And interest rates are now at historically low levels.
Work could begin on the new building by late next year.