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RANTOUL — A Gifford, N.H., firm has entered into an agreement to buy one of four hangars on the former Chanute Air Force Base.

Maverick Pipe intends to buy the nearly 100,000- square-foot hangar 2 from the village of Rantoul for $225,000.

The Rantoul Village Board approved the sale at its February meeting.

Maverick Pipe will provide a $5,000 downpayment until the deal is closed.

The company intends to renovate the building for use as a manufacturing plant, with the work to be finished by the end of the year.

The site is zoned as light industrial and does not require rezoning.

Village Administrator Scott Eisenhauer said the company manufactures PVC and metal pipe.

A call to the company was not returned.

Proceeds from the sale will be earmarked for operations of the Rantoul airport.

Eisenhauer said the company will have a 90-day due-diligence period that the buyer has to inspect the property and decide whether to proceed.

The hangar has been used for several years by organizers of the mammoth Half Century of Progress farm show for equipment storage and some operations.

The farm show, which has been held every other August on the grounds of the airport, would normally be held again this year. It is not yet known if the coronavirus pandemic will force its cancellation.

“We will be working with them to relocate their equipment to a different hangar,” Eisenhauer said.

One possibility is hangar 4, the former Grissom Hall.

“Hangar 4 is a great space,” Eisenhauer said. “It just needs more work. We’ve had people in it who do short-term rents.”

At one point, a Los Angeles businessman announced his plans to buy all four of the hangars on the former base plus the building that houses a nearby AT&T call center.

That deal, however, fell through.

Hangar 1 is currently used by a company to grow hemp.

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