The Bulls are expected to be among the biggest sellers heading into the deadline as they look to acquire draft picks as part of their roster overhaul. They already sent Nikola Mirotic to the New Orleans Pelicans for Omer Asik, Tony Allen, Jameer Nelson and a 2018 first-rounder last week.
Allen has also been at the center of talks with the Oklahoma City Thunder, per Johnson.
Lopez, 29, is under contract through the 2018-19 season and will make $14.4 million in the final year of his deal. He's averaging 12.6 points and 4.8 rebounds in 52 games this season.
Grant, 25, is still playing on his rookie deal and is set to make $2.6 million in 2018-19. He's averaging 8.3 points and 4.8 assists while serving as Chicago's primary backup point guard behind Kris Dunn.
While it's likely the Bulls are willing to trade both players, it's unlikely they garner the type of interest that makes a move likely.
Lopez is an NBA starting center but not someone who moves the needle enough to make any team consider giving up a first-round pick. Grant has developed into a league-average backup point guard—again, not the type of player for whom teams give up serious assets.
"Trades are part of the business," Lopez said of the trade rumors. "Guys are used to it. At the end of the day, it's just us and the other team and basketball. I don't think anybody is focused on anything else."