Just to the west of Faribault you'll find plenty of decent fishing on Madison or Washington Lakes. There are other lakes more in the immediate area but those will skunk over pretty bad in the heat of summer and generally see a ton of recreational boating and jetheads. The local lakes see some winter action thru the ice but nothing eye-opening. The two lakes mentioned are much larger and stay clean all year.
You'll find Cannon Lake to the north and east, just west of Cannon Falls. To the south on I35 [which runs right thru Faribault] you'll find Albert Lea and Lea Lake. Lea has crappies, walleyes, pike and bass.
Take Hiway 60 straight east from Faribault to Wabasha and you'll find yourself at the foot of Lake Pepin in pool 4 of the Mississippi River. This impoundment is over 26 miles in length and is a couple miles wide at its widest. The pool runs from 6 miles north of Red Wing, Minnesota to Alma, Wisconsin. I don't think any body of water in Minnesota can compare to the pool 4 fishing. Walleye, sauger, northern, crappie, panfish, catfish, sturgeon, some paddlefish, white bass, large and small mouth bass, muskies are a maybe and even some trout can be taken there. The fishing is year round with no closed seasons because it is a border water. While the lake itself will freeze in the winter and offers some ice fishing, the river portion ahead of the lake, about 9 miles of river, will stay open thru even the coldest of times and fishing for the walleye and sauger is unreal then.
This is a nice area and besides fishing we have some unreal whitetail hunting as well. You'll enjoy the move.