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This is a very rare Wartime survivor! Made in Chicago c. 1943-4, it is very similar to issued jackets, but lacks the rank tabs (they may have been neatly cut off, but it is hard to tell from the pictures.) Sovereign operated out of Chicago and had one contract for B-3s in 1943. My guess is that they also made a small number for the civilian market or had a contract over-run which they sold off.
Looking at the wear to the zip track I would say it has been lightly worn in the War and then stored. The tear under the collar may have recently been made when someone tried it on.