Attacker Chapman, 23, shone on his six-month loan spell at Montgomery Waters Meadow where, after checking in from Blackburn in January, he helped fire Steve Cotterill's side to League One safety.
The wing-wizard's future is up in the air, however, with his contract at parent club Blackburn ending at the end of June.
Chapman is on the radar of several clubs and has courted interest from teams in the Championship, who are monitoring developments.
But there is also interest from League One big-hitters who witnessed Chapman's stunning Salop form in the second half of last season. Chapman has won League One promotion with three clubs, Barnsley, Sheffield United and Blackburn.
The Hartlepool-born attacker has been offered a new deal at Ewood Park but is thought to be keen on pursuing his career where he is more likely to be involved in regular first-team football.
He started just five games for Tony Mowbray's side since joining the club in the summer of 2017 – and only once in the league.
Town boss Cotterill is a big admirer of Chapman's but it is understood there has yet to be any formal contact with the attacker since players departed for the summer.
Chapman met with the manager, as all Shrewsbury players did, when Cotterill made clear his plans to existing players a couple of weeks ago.
But the Shrews boss does not envisage Chapman to be short of offers and believes the seven-goal loan star, a specialist from long-range, has the ability to push on and play higher.
The former Middlesbrough youngster enjoyed his time in Shropshire despite finding himself in and out of the starting line-up as Cotterill rotated his ranks in the final games of the season, after Town had secured safety.
He would be open to a full-time stay at Salop. Chapman is thought to be keen to join a side that play an attacking style of football where he can be a first-team regular after a frustrating few years out of the Rovers reckoning.
And he will not be short of suitors at League One clubs, who Town would have to rival for his signature on a permanent basis.