The Dons received planning permission to build a new home at Kingsford on the city outskirts in 2018 but attention is now turning to a proposed beachfront location with plans set to go before Aberdeen City Council in June.
The US-based chairman admits that finding the finances for the development will be a challenge due to inflation and increased material costs, but vowed to give the project his 'best shot'.
"Two things keep me awake at night - performances and how we solve this [stadium] issue," Cormack told his club channel.
"The cost for us to build a quality stadium where we can uplift our income, our turnover - because we've got better facilities, because we're landlocked at Pittodrie - is going to be between £70 and £75m.
"We can build a basic stadium for a lot less but we have employed some of the best people that do new stadiums in terms of evaluating what we should have and what the turnover can be.
"But if we want to build a quality stadium where we can uplift our income by £3m or £4m per year because we have better facilities then that is what it is going to take.
"We have to look at the cost of the land we get at Pittodrie. Grants are going to be important for us as well. We have said all along we want this to be a net zero stadium.
“I’m up for it and I will give it my best shot."