According to reports in the Daily Mail, the American club are desperate to bring in a top English star to become more competitive, and have identified Ferdinand as the man they want.
The Englishman is already 33, and his current deal with the Red Devils expires at the end of next season.
However, the MLS club want the centreback to join them next summer, and are confident in their chances to lure him to the United States.
Ferdinand has been struggling with injuries the past three seasons, and could view the Fire as a suitable destination to wind down his career that began at Leeds and West Ham.
It would also be a financially lucrative deal, given that lower US tax rates would mean he would bring back a similar pay package that he gets at United, estimated to be around £120,000-a-week.
However, the Englishman may be worried about the impact that playing in a lesser league might have on his England chances, epsecially with Gary Cahill, Phil Jones and Chris Smalling all pressing their cases to Fabio Capello.
Apart from the Chicago Fire, there could also be interest from within the Premier League, with Tottenham Hotspur Harry Redknapp reportedly also interested in the defender.