We had fallen out to the parking lot awaiting marching orders to go to (chow) it was still dark and we saw a light approaching from the east at a tremendous speed, it stopped a little to the east (Not quite overhead). It then proceeded north at a great speed and stopped at about the 2 oclock position. It then returned to nearly overhead, stayed there for maybe a minute and then shot off to where it came from. We decided to investigate on our own and some of us checked with weather to see if any balloons had been sent up. Some of us checked to see is anything had been picked up on radar. Some of us checked the flight schedule for aircraft. NOTHING showed up on any reports, we concluded that this could have been a UFO. There were approximately 35 airmen in that squadron. This happened at Chanute AFB< Illinois in 1955.