Ball of light southeast of mahomet IL

It's just about 2:30 am when i started to observe the object. at first i thought it was a star until i saw other objects approach and leave from the ball of light i was looking at. I tried to get my telescope to focus on it but its an old cheap piece of crap and all i could see though it was a sphere of light that looked like a white version of the sun. it was too far away to have been a plane and moving far to slowly. it was moving though it seemed to wobble about and slowly move more north but could tell it was moving and far faster than objects i know to be real stars.its now 3:15 the object is still in the sky but seems to have moved more southeast because it appears to be getting further away and is far more dim than when i first starting observing it. and i mean a huge difference in brilliance like going from a flood light to a candle