I personally have a web site project (using windows authentication) which DAL in a stand-alone console project using code-first. Both projects have EF6 installed and they are running fine. The web site can be published to an IIS machine. I don't see any problems. Just make sure the console project be compiled as "Any CPU" so it could be integrated into the ASP.NET project or a run-time error will occur in my X64 environment.
You don't have to use console project to host the DAL (I did so because I need to do some import/export jobs); a plain class library project would do.