Milwaukee Film now owns the Downer Theatre.
The nonprofit behind the Milwaukee Film Festival – and operator of the Oriental Theatre since 2018 – has purchased the 111-year-old two-screen Downer Theatre, Milwaukee Film officials announced March 2.
“Owning the Downer Theatre is a dream-come-true for Milwaukee Film,” Milwaukee Film Executive Director Susan Kerns said in a news 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 purchased the Downer Theatre, 2589 N. Downer Ave., and surrounding businesses in early 2020. Milwaukee Film operated the Downer beginning in 2024 through a rental agreement with Bridge33, with Milwaukee Film reporting an additional $925,000 spent in the neighborhood in 2025 for dining, shopping, parking and more, according to a Cinema United study.
Several private donations and a low-interest loan courtesy of The Helmerich Trust helped make Milwaukee Film's Downer acquisition possible. Financial details of the sale were not disclosed.