Unfortunately elementary OS 0.4 Loki requires a 64-bit CPU, however the Atom N270 is 32-bit. All of the Loki packages are only bit for 64-bit, so installing Ubuntu and then adding the elementary repos is not a viable solution.
elementary OS 0.3 Freya, the previous elementary release, was the last to feature a 32-bit installer. You can download it by pasting the following magnet link into a BitTorrent client:
magnet:?xt=urn:btih:0a36a61cb46fc1444c95eb62185b777d65362ca9&dn=elementaryos-freya-i386.20150411.iso&tr=https%3A%2F%2Fashrise.com%3A443%2Fphoenix%2Fannounce&tr=udp%3A%2F%2Fopen.demonii.com%3A1337%2Fannounce&tr=udp%3A%2F%2Ftracker.ccc.de%3A80%2Fannounce&tr=udp%3A%2F%2Ftracker.openbittorrent.com%3A80%2Fannounce&tr=udp%3A%2F%2Ftracker.publicbt.com%3A80%2Fannounce&ws=http%3A%2F%2Fsuberb-sea2.dl.sourceforge.net%2Fproject%2Felementaryos%2Fstable%2Felementaryos-freya-i386.20150411.iso&ws=http%3A%2F%2Fignum.dl.sourceforge.net%2Fproject%2Felementaryos%2Fstable%2Felementaryos-freya-i386.20150411.iso&ws=http%3A%2F%2Fheanet.dl.sourceforge.net%2Fproject%2Felementaryos%2Fstable%2Felementaryos-freya-i386.20150411.iso&ws=http%3A%2F%2Fcitylan.dl.sourceforge.net%2Fproject%2Felementaryos%2Fstable%2Felementaryos-freya-i386.20150411.iso)
You won't receive feature updates for Freya, only security patches (making it safe for continued use).
You might like to take a look at installing regular Ubuntu, or the more lightweight Lubuntu - both of which provide 32-bit installers.