The location estimation problem has been attracting a lot of research interest in recent years due to its significance for different areas of signal processing. This paper deals with a bistatic MIMO radar system where the targets are located in the near-field region. In this work, we derive the Cramér-Rao bound (CRB) for bistatic MIMO radar systems using the exact spherical wavefront model to evaluate the performance of target parameter estimation algorithms. The conditional and unconditional CRBs are derived for a system with one and multiple targets. For the one target system, we provide an analytical inversion of the Fisher Information Matrix (FIM) and obtain closed-form analytical non-matrix expressions of the CRB corresponding to the Cartesian and spherical coordinates of the targets. We compare the derived conditional and unconditional CRB with the performance of state-of-the-art localization algorithms and analyse the dependence of the CRB on various system parameters.