Having spent much of pre-season in the team, Chalobah looked on course to make an impression under new head coach Mauricio Pochettino.
Instead, a number of defenders were drafted into the squad, leading to the academy graduate being available for transfer but failing to secure a move away from Stamford Bridge.
Since then, Chalobah has been suffering with a thigh injury and has not been available for selection, resulting in him missing out on an opportunity to stake a claim for a recall.
With Chelsea in a position where they could benefit from boosting their position with FFP, it is generally accepted that the 24-year-old remains without a future with the West Londoners.
Previous suitors Bayern Munich appear to have moved on from Chalobah, while Nottingham Forest are now under a different head coach in Nuno Espirito Santo.
However, according to talkSPORT, West Ham are monitoring the situation with the hope of negotiating a deal with Chelsea.
David Moyes and his players can be satisfied with the opening half of their season, the Hammers currently sitting in sixth position in the Premier League standings.
Furthermore, West Ham have qualified for the last 16 of the Europa League and have ambitions to win that trophy in order to bolster their chances of qualifying for the Champions League for the first time in their history.
As it stands, Moyes is in the process of rejigging his squad, with versatile defender Thilo Kehrer having already made the switch to Monaco.
At a time when Vladimir Coufal is yet to sign a contract extension and Nayef Aguerd is attracting interest from elsewhere, at least one new defender may arrive at the London Stadium.
From Chelsea's perspective, co-owners Todd Boehly and Clearlake Capital will be looking for a fee in excess of £25m, something which may not be plausible in January.
Much may depend on whether Chelsea and Chalobah receive other proposals, with interested clubs aware of Chelsea's desire to part ways with an out-of-favour academy graduate.