The F4U-I Corsair, commonly called the "Birdcage Corsair," went down during a training exercise in 1943. The plane, which was one of an estimated 200 World War II fighters lost in Lake Michigan, lost its tail upon impact and sank in about 240 feet of water.
The plane will be restored and eventually put on display at the Naval Aviation Museum in Pensacola, Florida.
A spokesman for the museum, which is helping to fund the effort, said the salvaging, cleaning and transporting of the aircraft to Florida costs between $260,000 and $300,000. Restoration prices are still being negotiated.
