Lee, 24, wound up signing on the Texans as an undrafted free agent out of Bowie State back in May of last year. He was later traded to the Bears in return for a 2017 seventh-round pick.
However, the Bears elected to place Lee on waivers on Monday week to make room for some new additions.
Lee is in the second year of his three-year, $1.577 million rookie contract and stands to make a base salary of $525,000 for the 2016 season.
In 2015, Lee appeared in all 16 games for the Bears and caught one pass for seven yards receiving and no touchdowns.