Balogun has emerged as one of the top targets for Inter who are looking to bring in a forward in the ongoing transfer window.
The striker had a great time on loan at Reims last season and wants to play guaranteed first-team football in the upcoming campaign.
Arsenal are believed to be open to offers for him this summer and Inter are very keen to take him to Italy ahead of the new season.
And according to Italian sports daily Gazzetta dello Sport, Balogun is seen as a player whose value could only grow in the future.
He does not have the physical qualities of a Romelu Lukaku but Inter are still keen to sign him this summer.
The Nerazzurri believe that he has the required technical ability to keep developing and Balogun could be sold in the future for a big profit.
Inter are said to be preparing an offer for a player who Arsenal are ready to sell for bids around the €40m mark.
