The MLS outfit are keen on adding the former Germany captain to their ranks but will face competition from clubs in Russia and the United Arab Emirates
Ballack has been roundly criticised for his performances in recent months, with club CEO Wolfgang Holzhauser admitting that the 35-year-old has been a disappointment since rejoining the BayArena club in June 2010.
Last week, Ballack's agent hit out at Bayer for blaming his client for deeper problems at the club.
Leverkusen have already confirmed that Ballack will leave the club when his contract expires in the summer, but it now seems that the former Germany captain could leave the Bundesliga sooner, with Chicago Fire registering their interest.
There is also interest in Ballack from the United Arab Emirates and Russia, but the former Chelsea man is reportedly not eager for a move to either country.