MILWAUKEE (CBS 58) -- Milwaukee Film has purchased the historic Downer Theatre. 

The theater was previously owned by Bridge 33 Capitol. 

Milwaukee Film hopes to preserve and restore the theater to ensure it stays a cultural landmark for years to come. 

“Owning the Downer Theatre is a dream-come-true for Milwaukee Film,” explains Milwaukee Film Executive Director Susan Kerns. “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.”

Milwaukee Film's purchase of the theater was made possible through private donations, as well as a low-interest loan courtesy The Helmerich Trust.