Milwaukee Film buys Downer Theatre, restoration project announced

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Downer Theatre, Milwaukee

MILWAUKEE - Milwaukee Film has purchased the historic Downer Theatre from Bridge33 Capital, securing permanent local ownership of Wisconsin’s oldest continuously operating cinema and launching a multi-year capital campaign for restoration.

Permanent local ownership

What we know:

The sale, announced Monday, March 2, ensures the 110-year-old theater will remain under the stewardship of the local nonprofit, which has operated the Downer since 2024 through a rental agreement.

Downer Theatre, Milwaukee (Wisconsin Historical Society)

Milwaukee Film leaders say the purchase was made possible through private donations and a low-interest loan from The Helmerich Trust.

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The nonprofit now plans upgrades to seating, accessibility features, audio and projection systems, restroom improvements, an expanded lobby and the addition of 35mm film capabilities as part of the capital campaign.

In addition to upgrading the moviegoing experience at the 110-year-old theater, the nonprofit says its operation has had a measurable economic impact on the surrounding neighborhood.

New era for Downer

The backstory:

Bridge33 Capital acquired the Downer and surrounding retail properties in early 2020 and said the long-term goal was to transition the theater to a sustainable local owner. Milwaukee FIlm has operated the theater since 2024, under a rental agreement with Bridge33 Capital.

Historic cinema preserved

What they're saying:

"Owning the Downer Theatre is a dream-come-true for Milwaukee Film," said Susan Kerns, executive director of Milwaukee Film. "It affords our organization stronger financial footing and ensures our ability to provide the city we love with the film festivals and year-round programming it deserves. We’re delighted to close this deal in time for this April’s Milwaukee Film Festival."

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"Our goal for the Downer Theatre was always to foster a vibrant neighborhood hub and eventually transition the asset to a sustainable, long-term owner," said Matt Galas, asset manager at Bridge33 Capital.

Downer Theatre, Milwaukee

"This is an exciting new era for Milwaukee Film," said Lacey Sadoff, board chair. "We can’t wait to show you what’s in store."

110 years of film

Dig deeper:

The 18th annual Milwaukee Film Festival is set for April 16–30.

For more information on Milwaukee Film’s Downer Theatre renovation efforts and donation opportunities, visit mkefilm.org/savethedowner.