Nebraska is getting close to this. Last football conference title was 1999 iirc. Had to look up basketball and their last conference regular season title was in 1950 (they won their tourney in 94).
With that said, they've actually reached the summit in football and not only won, but had a dynasty. I do think their fans a little more realistic in acknowledging what Nebraska football is up against in the current cfb landscape, but a not insignificant portion of the fan base still clings to the notion that they are only one good coach away from being restored to glory.