Thanks for all the replys. I was hoping Jon F would reply since I knew he was relatively close by, and he did, plus all you others. THANKS!
If this land was in SW MN I could have given the land owner a good answer, but SW MN vs north of the Twincities are totally different.
The reason the landowner asked me was because several years ago when they had mentioned what they were getting (less than $50/acre), I said that was too low. The landowner is not out to get every last dollar or even close, but they are being asked to sign a multi year lease.
I have been waiting on several friends of friends to get back to me on some info/details, but that is not happening. I really do not want to put a lot of details on the internet since this is not my land.
So, I am just going to tell the landowner the range is $50 to $150 but dropping, UofM average is $86 (thanks Paul). The tillable land is not all in one piece, but not all small pieces either.
I am also going to point them at the local FSA office (Cambridge) and suggest they may want a tax person who is familiar with farms, though probably not as important.
If I get any more shareable details, I will update.
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