Chalobah has already agreed personal terms with Como, and with a fee now agreed between the two clubs, it shouldn't be too long before he's officially a confirmed signing for Como.
Chelsea will receive an initial £25.7m, with a further £5.1m available in add-ons following protracted negotiations. A sell-on clause has also been agreed for the England international.
Chalobah will return to Champions League football with Como, who make their competition debut in the new season.
The England international will leave his boyhood club after nearly 20 years, having joined Chelsea as a child. Since starting to play regularly for the first team in 2021, he has made 151 appearances across all competitions and scored eight goals. Chalobah departs after winning two Club World Cups, the FA Cup, the Super Cup and Conference League.
The move forms part of an effort at Stamford Bridge to reduce the size of new manager Xabi Alonso's squad. Chalobah will be the fourth major summer sale after Marc Cucurella, Tyrique George and Andrey Santos. The Blues have signed Maxence Lacroix, 26, from Crystal Palace for £52m, adding both experience and height to their defence. They still have nine senior centre-backs on their books, including Levi Colwill, Wesley Fofana, Tosin Adarabioyo, Josh Acheampong, Benoit Badiashile, Aaron Anselmino, Axel Disasi and Mamadou Sarr.
Napoli are reportedly close to reaching an agreement with Chelsea to sign Badiashile.