A “new model” academic chemistry library is proposed at the University of Illinois at Urbana-Champaign (UIUC) in which primary access to journals is electronic, replacing traditional print access, binding and shelving. Print journals will continue to be purchased and archived unbound in a remote storage facility following unbound display and access for twelve months. The new model, initially proposed by administrative chemistry faculty, was assessed in a feasibility study which looked at the stability, quantity, and quality of electronic journals; it also included a survey of chemistry faculty, a review of internal management data, and an analysis of use of chemistry journals, both print and electronic. The feasibility study found support for the model in every area, but with a few caution flags and speed bumps predicted along the way.