The museum was founded by Gerald Oliver, Jr. in 1981 at Capital Airport in Springfield, Illinois around plans to restore a B-25 using parts recovered from Alabama.[1][2] It briefly included a second chapter in Bloomington, before that organization split off to form the Prairie Aviation Museum in 1983.[3] Following the separation, in 1985 it began negotiating for the lease of a hangar at the Logan County Airport.[4]
In 1987, the museum was given a 2,000 sq ft (190 m2) World War II barracks that had been moved to the airport from Camp Ellis years before and began renovating it.[5][2] An F-4B located at Chanute Air Force Base was flown to the museum as a sling load underneath a helicopter in 1991.[6] The B-25 project, which had been brought with the museum after its move, was eventually sold in 1994.[7][8]
After learning it would be receiving a grant, the museum announced plans to upgrade its building in 2013.[9]