If your airport doesn't takeover ownership of your hangar after 20-30
years, they you're lucky. A lot of them do, that's why the right to own the
hangar and lease the land for 75 years (Republican Steve Pearce's (R-NM)
proposed legislation) is good.
Does your lease permit the airport to terminate your land lease without
taking your hangar? That's also possible. They don't buy the improvements
from you. They simply say, your land lease is terminated and you have 60
days to remove your improvements.
--Kent

From: "abripl"

" ...I would guess that
you paid a relatively low price to the original hangar builder because,
with only two years before the hangar becomes the property of the
airport, he no longer had much of a building to sell you...."

Thats not the case at all. This hangar has had several owners already
and never became the property of the city (over its 30 year life) nor
do they intend to acquire it. It explicitly says in the lease that if
they did they would have to compensate the leasee at a fair value for
the "improvements". There is no intention here by the city to sieze any
hangar for "profit". The hangar strucure owners are taxpayers and would
raise a rucus if that was the case.