The Seattle Times has reported that Kosuke Fukudome is a near "lock" to sign with the Cubs, expected in the next few days. The Cubs are expected to top any offer another team gives Fukudome, including the Padres reported offer of 4 years/$40 million.
The Boston Globe has reported that Andy MacPhail and Jim Hendry spent a nice lunch together discussing the possibility of Erik Bedard in a Cubs uniform and possible the same scenario with Brian Roberts. Nothing has come with these rumors as of now.
If the Cubs happen to miss out on Fukudome, the Cubs will set their sights towards players such as Josh Hamilton and Raul Ibanez. Some have speculated Jonny Damon could end up with the Cubs.
ESPN has reported that the Cubs are interested in Chone Figgins. The Angels may want Aramis Ramirez in return, which is something the Cubs probably won't even consider doing.
The Pirates and the Cubs are reportedly talking about a trade that would send Nate McLouth in exchange for either Carmen Pignatiello or Neal Cotts. McLouth would provide a lefty bat off the bench for the Cubs and in my opinion, would be a nice aquisition.
The Cubs are apparently still in the run for Hiroki Kuroda. Kuroda is reportedly seeking around a 5 year/$50 million contract. This will probably be way too much to pay "Mr. Complete Game". An unproven, 33 year old pitcher would probably never get this sort of contract. Expect more around a 4 year/$40 million contract.
The Cubs will either sign or trade Mark Prior, and not non-tender him. While the trade talks with the Padres are cooling down a bit, talks with the Rangers are heating up.