The 27-year-old is pushing for a move away from Atalanta this summer and has been linked with moves to the Premier League and Barcelona.
According to a report by Corriere dello Sport, his current club are in no mood to negotiate below their €50 million asking price.
Lookman still has two years left on his contract at Atalanta and is understood to be expecting a move to Inter.
New manager Chivu is pushing for the move to be completed and Atalanta are willing to let him go in order to fund their summer transfer plans.