I'm as surprised as anyone that the Cubs didn't pick up Hammel's option. He was a bargain for his price in an offseason with some really crappy options at starting pitching in free agency. He's going to get some ridiculous money. God bless him. If I had to guess, I'd say the Texas Rangers.
Looking at the Cubs roster, they could probably use one "depth" type acquisition in the field. The exact position isn't that important since they have a lot of flexibility with Zobrist, Bryant, etc., but they probably want it to be a left-handed bat. Maybe they re-sign Coghlan or a Coghlan-like player. Luis Valbuena might work. Whoever it is, they won't spend much money to get him.
If they get a starting pitcher, it will be via a trade that will probably involve Soler and a number of prospects. Otherwise I think they go with the returning 4 plus Montgomery who seems to have the Cubs' confidence going forward.
The bullpen needs help. Rondon, Strop, Grimm and Edwards are the only returnees and you can't have much confidence in Rondon given his injury history and second half performance. Figure the Cubs will probably acquire at least two, maybe three, established bullpen arms. You've got to figure they'll be in play for the "big three" of Chapman, Jansen, and Melancon, and will be in talks with Kansas City if they decide to dangle Wade Davis or Kelvin Herrera out there. Lower key guys I like: Brett Cecil and Boone Logan as lefties and Greg Holland coming off of TJS.
I think some poor team will pay way too much for Andrew Cashner, thinking that he can still be a starter, which is too bad because I think he'd be perfect for the Cubs in the Travis Cahill role. Maybe Brett Anderson could slip through the cracks and be that guy.