He is out of contract in the summer and could join an overseas club for free on February 2, and Rochdale are willing to cash in on him before the January transfer window closes.
The 18-year-old is also on the radar of Juventus, Bayern Munich and a couple of Championship sides given his huge potential, and he is seriously thinking of the offers from those clubs as he eyes an exit from the League One side.
West Ham have already tabled a bid, and manager David Moyes and Rochdale boss Brian Barry-Murphy have talked about Baah in length.
The teenager has scored three times and assisted twice in seven league starts this term and is proving to be a quality finisher given the type of spectacular goals he bags.
The Hammers are looking to bolster their attack this month after losing both Sebastien Haller and Robert Snodgrass, but whether Baah can have an immediate impact at the London Stadium remains to be seen.
The youngster will be keen to continue playing first-team football on a regular basis, and that might not be guaranteed at West Ham given the calibre of options currently available.
However, Steven Gerrard could be able to offer him that immediately at Ibrox, and a move to the Light Blues to continue his development could be tempting.
While Rangers are 23 points clear at the top of the Scottish Premiership table, bolstering his attack with a quality option this month would not be a bad idea.
Baah can play excellently well on both wings and is clearly not short of suitors.
He will be mainly one for the future wherever he goes next, and it will be interesting to see which club wins the race for his signature.