Yes, if the CPU supports Intel (R) 64, then it will work with 32 bit and 64 bit software and OS.
The main thing that you may need to check is if there are any drivers for the motherboard for Win 7 32 bits.
Of course, i am assuming that the board and cpu are compatible and are on the compatibility from the board's manufacturer site.
All the best,
Thanks for the response. I', building the PC from scratch and I'm waiting for a few more parts. I'll let you know how things work out. Thanks again. Peace.