Chicago signed the shooting guard to a two-year 47 million dollar deal last off-season.
Wade played in 60 games last year averaging 18.3 points and 4.6 assists per game.
The Bulls are currently in rebuild mode after trading Jimmy Butler to the Minnesota Timberwolves in June and opting to let Rajon Rondo walk.
They have young prospects in rookie Lauri Markkanen, Kris Dunn and Zach LaVine. With a potentially loaded draft class that includes Michael Porter and Marvin Bagley III, the Bulls could be in good position to grab either player come next year’s draft.