It will run, but that's not the point. What likely puzzles the most of us is why would you use an i7 CPU and then only use integrated graphics AND play on a lower-than-native resolution? This just doesn't make sense.
First of all, game will look awful on a 1080p monitor when you lower the resolution so much, due to the very nature of LCD monitors.
Second, instead of i7, you could get i5 AND a great gaming card, and play comfortably on full 1080p without any issues.
If you really don't need more than low resolution and low fps, then by all means, use the integrated graphics. Just don't expect much, that's what we are trying to say. And if that's all you needed, you could as well have purchased core i3, you would have the same...