Passing the following argument to configure script allowed me to build the 32bit library on 64bit Linux
./configure --build=i686-pc-linux-gnu CFLAGS=-m32 CXXFLAGS=-m32 LDFLAGS=-m32
Passing the following argument to configure script allowed me to build the 32bit library on 64bit Linux
./configure --build=i686-pc-linux-gnu CFLAGS=-m32 CXXFLAGS=-m32 LDFLAGS=-m32