Yep, sounds like Shaka is the top target for Illinois. I would think he would have to consider it. He is from Wisconsin and his wife went to Northwestern. They may be looking for a reason to get back to the midwest, or they may not want to come back, who knows.
I do know this, Shaka would be a very good coach for Illinois and bad for the rest of us in the B1G. I for one, do not want Illinois to hire him. His team plays an intense style of basketball that will get him wins in the B1G. I think he would also be able to recruit very well at Illinois, especially the Chicago and Milwaukee areas. This would also be bad for the rest of the B1G. He is a big up and coming name who plays an exciting brand of basketball and has great recent showings in the Big Dance. Top flight talent would likely flock to him at Illinois.
I absolutely do NOT want him to coach at Illinois.