He twice has been sidelined by tears of the anterior cruciate ligament in his left knee, the most recent of which caused him to miss the first 50 games last season.
Before his injury in the 2017 season, Parker was putting up 20 points a game, so it's easy to see why the Bulls are taking the risk with him.
No word on the amount of the deal being discussed, or if the Bucks will match, but the move is a curious one for Chicago.
It's unknown whether Parker, a restricted free agent who has a qualifying offer from the Milwaukee Bucks, will sign an offer sheet from the Bulls or if the Bucks will rescind the offer sheet, allowing the Bulls to sign him as an unrestricted free agent.
Parker became a legend in Chicago at Simeon Career Academy, becoming the second player in state history to start for four state championship teams.
The deal could be finalized as early as Sunday, and it is not expected that the Milwaukee Bucks will match an offer sheet, reports ESPN.
Parker is a Chicago native and reportedly has interest in joining the Bulls, so this could be a good deal for both parties. Going into his second season with the Bucks, Wilson looks poised to take that leap into the rotation after appearing in only 22 games last season.
Bartelstein praised the Bucks for "working side-by-side with us".
The 23-year old forward will join the Bulls young core of Lauri Markkanen, Kris Dunn, Bobby Portis, Zach LaVine and 2018 draft selection Wendell Carter Jr. Word is the Bulls plan to play Parker at small forward if a deal is completed.
Parker goes from playing alongside superstar Giannis Antetokounmpo to trying to help the Bulls rise in the Eastern Conference after a 27-win season.