The right-hander was released by the Arizona Diamondbacks earlier this week
The perception with the Cubs is that if Howry still has anything left, he would be a nice fit in the sixth and seventh innings. The other good news for the Cubs is a Howry signing comes at a low risk, considering that a pro-rated contract at the league minimum right now would cost them $280,000.
Howry pitched for the Cubs from 2006 through 2008. He was an important setup man for the 2000 AL Central champion White Sox.
It's unlikely Howry would be looked at as the solution to the Cubs' setup man issues. The Cubs will continue to look elsewhere to fill that void. The Cubs tried Carlos Zambrano in that role, but he was ineffective and is being transitioned back to the starting rotation.
An announcement on Howry's signing could come anytime Thursday or Friday, according to the source.