Milwaukee Film Buys Historic Downer Theatre for $1.55 Million

Nonprofit group acquires iconic cinema, plans to preserve its legacy.

Published on Mar. 4, 2026

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Milwaukee Film Inc., a nonprofit organization, has purchased the historic Downer Theatre in Milwaukee, Wisconsin, for $1.55 million according to a newly filed deed. The cinema, which is Milwaukee's oldest, was sold as a condominium, allowing the seller to separate it from the connected buildings that house other businesses.

Why it matters

The Downer Theatre has long been a cultural landmark in Milwaukee, and its acquisition by Milwaukee Film ensures the preservation of this historic venue. As a nonprofit, Milwaukee Film is committed to maintaining the theater's legacy and continuing to provide the community with access to independent and art-house films.

The details

The $1.55 million purchase price for the Downer Theatre was not initially disclosed when Milwaukee Film announced the acquisition. The theater was sold as a condominium, which allowed the seller to break it off from the connected buildings that house other businesses. This transaction structure facilitated the sale of the iconic cinema as a standalone property.

  • Milwaukee Film Inc. purchased the Downer Theatre in March 2026.

The players

Milwaukee Film Inc.

A nonprofit organization that aims to preserve and promote independent and art-house cinema in the Milwaukee area.

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The takeaway

The acquisition of the Downer Theatre by Milwaukee Film Inc. ensures the continued operation and preservation of this historic cinema, which has been a cultural landmark in Milwaukee for decades. As a nonprofit organization, Milwaukee Film is well-positioned to maintain the theater's legacy and provide the community with access to a diverse range of films.