I've already done something similar, but with x64 packages.
To build a wheel file for lxml, and link to static dependencies that you've already downloaded or compiled yourself, you need to do this:
1) Modify the STATIC_INCLUDE_DIRS and STATIC_LIBRARY_DIRS variables in setup.py to point to your already downloaded/compiled dependencies.
2) Use the following command to build a wheel file for lxml:
python setup.py bdist_wheel --static
This should compile lxml and build a wheel file that links against the static dependencies.
Hope this helps!
Benoit