Smith, who reportedly entered a treatment facility for substance abuse on Sept. 24, could be near the finish or have completed his stay. Such treatment programs often last 28 to 30 days.
On Friday, Baalke echoed head coach Jim Harbaugh, who expressed optimism Sunday that Smith would play again in 2013.
"We hope to meet with him in the near future and go from there," Baalke said.
Baalke, who met with the team's beat writers at a London hotel, said the organization needs to see "progress" and develop a "trust factor" with Smith before he returns to the field. Smith has been arrested on DUI charges twice since January 2012 and was recently charged with three felony counts of possession of an assault weapon.
It's likely the 49ers will work in concert with others outside the organization to measure Smith's progress as he deals with his off-the-field issues.
"Obviously we're hopeful," Baalke said. "But at the same time we're prepared for either outcome."
Baalke addressed the team's controversial decision to let Smith play two days after his DUI arrest on Sept. 20 and shortlybefore he entered treatment. Smith played every defensive snap in a 27-7 loss to the Colts.
"Ultimately, the decision we made was the decision we felt was in the best interest of the young man," Baalke said. "Those can be, and obviously have been, questioned by many. But our ultimate goal hasn't changed, and that's to help Aldon get back to a place where he feels very comfortable and can move forward in a very positive manner."
In the offseason, the 49ers can negotiate a long-term extension with Smith, 24, whose contract expires after the 2014 season. Baalke said Smith's future with the team would partly hinge on his recovery.
"We'll continue to monitor his situation and ultimately do what we think is best for the organization when it comes to working out" a long-term deal, Baalke said.
Extensions looming? The 49ers have been aggressive in signing their stars to contract extensions in recent years, and Baalke said the front office is in contact with the agents of several players.
Last year, the 49ers signed inside linebacker NaVorro Bowman to a five-year extension in late November. Baalke said it is possible another extension could be completed during the regular season.
"I wouldn't rule it out," Baalke said. "... We're talking to several guys. Whether that gets done or not remains to be seen."
It wouldn't be a surprise if the 49ers were hoping to extend All-Pro left guard Mike Iupati, who is a key part of their power run-based offense and whose contract expires in 2014.
Another possible target is cornerback Tarell Brown, who unwittingly forfeited a $2 million offseason workout bonus this year and is in the final year of his contract. Brown has since fired his agent and hired Joel Segal.
Baalke said the 49ers wanted Brown to recoup his lost money, but didn't offer specifics.
"We're going to do our best to make it right," Baalke said. "... We're going to do our best to make sure T. Brown feels he's being treated fairly by the 49ers' organization."
Said Brown: "I'm focused on football. The biggest thing right now is to focus on this game and us playing against Jacksonville. The rest of that will take care of itself. I leave that to (the front office) and my agent. And they'll do the best they can to make it work."
