bk18, your post is good, but I don't think we could even hang with a school like Dayton - Pioneer League - I think it's reclassified at FCS (formerly Division I-AA) and they play fellow Catholic institutions Marist and San Diego, where current Stanford HC Jim Harbaugh cut his teeth before moving to Palo Alto.
You have to look at budget - not just for facilities - where would we play? Certainly it would be throwing money down the drain to play at the Dome on Saturday and there's no way you'd get Father Lawrence Biondi to replace the natural grass surface of Herman Stadium for field turf and more bleachers.
Also have to look at coaches. A decent Pioneer League team has 10-12 coaches. You have to figure in a budget for recruiting, camps, equipment, etc.
Have a marching band or anything like that for halftime? You can't just ask for a football team without looking at all the costs involved.
Best thing you could do is create Saint Louis on NCAA Football on playstation.