seeing as it is not in cultivation and has no improvements other than being on pavement, I would think 2k per acre or $40,000 total.

I posted before I saw your answer. From what I know of general midwest land values, (I don't know much but being in the agricultural field, I know general land values throughout various parts of the country) I'd say he has priced about right. Not a steal, but a priced at a level where he shouldn't have too much trouble finding a buyer.

In our country, you would do well to get 1/2 of that.