On Monday, Milwaukee Film and Bridge33 Capital announced the sale of the Downer Theatre to Milwaukee Film. The local organization had been operating the movie house since 2024 through a strategic rental agreement and now owns the property outright.
“Owning the Downer Theatre is a dream come true for Milwaukee Film,” the organization’s executive director Susan Kerns said in a release. “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.”
Bridge33 Capital acquired the Downer and a handful of surrounding retail properties in 2020. While under the rental agreement, Milwaukee Film had begun making improvements to the 110-year-old theater — an effort that will relaunch in earnest with the establishment of a multi-year capital campaign for the “historic preservation, renovation and improvements to the Downer Theatre.”
“Buying the building is just the beginning,” Kerns said in the release. “We have ambitious plans to restore this historic cinema in a way that honors its legacy while ensuring it serves today’s audiences.
“Our vision includes upgraded seating, expanded accessibility features, upgraded audio and projection systems, and the addition of 35mm film capabilities to reconnect the theater with its rich tradition of cinema exhibition. We are also planning significant improvements to restrooms and an expanded lobby that will create a more welcoming and inclusive gathering space for our community.”
For more information on the campaign and Milwaukee Film’s aspirations for the Downer Theatre, visit the “Save the Downer” section of the organization’s website.
