Crain, 32, spent the last three years as a setup man for the Cubs' cross-town rivals. He posted an 0.74 ERA with 11.3 K/9 and 2.7 BB/9 in 36 2/3 innings for the White Sox in 2013, although he suffered a shoulder injury in June and missed the rest of the season. The White Sox traded him to the Rays in July, but he did not make an appearance for Tampa Bay.
FOX Sports' Jon Morosi tweeted last week that Crain was deciding whether to take a one- or two-year deal. A one-year deal presumably might be attractive to Crain as a way of proving his shoulder is healthy before hitting the free-agent market against next season.
The Astros have reportedly shown interest in Crain, as have the Rockies. The Cubs agreed to a contract with Jose Veras last week with the intention of making him their closer, so Crain would likely continue to work in a setup-type role if the Cubs were to sign him.