It all depends on what CCC's goals are.
If he wants to coach in the NBA, Collins probably won't jump to a blue-blood program unless it offers a clear and immediate upgrade in talent and exposure from where NU is right now. I don't think there are a lot of programs with HC openings that fit that description right now. Jumping directly from NU to the NBA might be a possibility in the future, but we'd have to have a couple seasons like Butler did under Stevens first.
I don't believe that CCC will jump on an HC opportunity at a blue-blood just for the sake of climbing the ladder or making more money. He spent a long time as an assistant at Duke and could have started moving up the coaching ranks much earlier if that was his primary motivation. That said, I wouldn't be shocked if it happened. I just don't think it's very likely. The one exception is, of course, Duke. When that job opens up, I don't know whether it'll be Collins, Wojo, or someone else getting the offer, but we all know that CCC is more likely to go than stay if he's the Chosen One.
The third possibility is that Collins wants to do what Coach K did at Duke. Maybe he looked at NU, saw a small, academically-minded school and realized that this was the perfect place to build a program, establish a legacy as a top coach, and rejuvenate the college basketball scene in his hometown. This is definitely my preferred outcome, and I think it's a realistic possibility.
One thing's for sure - if the team keeps playing like it has been so far this season, we'll have our answer soon enough.