Cleveland's package would include Andrew Wiggins and Anthony Bennett, the No. 1 picks in the last two drafts, plus a future first-rounder and potentially one additional player to meet NBA trade requirements.
Golden State has been rumored as another potential landing spot for Love, though reports indicate the Warriors' refusal to include shooting guard Klay Thompson in a potential package has stalled negotiations.
This offseason, the Bulls signed four-time All-Star center Pau Gasol and heralded European prospect Nikola Mirotic and acquired former Creighton forward Doug McDermott in a draft night trade.
Chicago won 48 games and finished in fourth place in the Eastern Conference last season before losing to the Wizards in the first round of the playoffs.
- Chris Johnson