Well, there’s always the 2008 Tournament to provide some inspiration. The Illini were seeded 10 out of 11 teams and at least made the final.
I thought I was crazy, but turns out the 1999 Illini did the same thing.
Skinny freshman Cory Bradford made a bunch threes and Illinois beat NU late in the season at Welsh-Ryan, and they made a run to the finals where they lost to the Mateen Cleaves MSU national champs.
(Officially, OSU , Minnesota, and Michigan have since vacated their wins from that season, now placing Illinois 8th in the conference, but I know what I saw...)