MILWAUKEE — Just over a month ago, two of the last three independent theaters in the Milwaukee area fell into foreclosure. The Times Cinema and the Rosebud Cinema were closed, but may soon be getting a new start.
The Rosebud Cinema and the Times Cinema are in a transition period. Both closed just over a month ago, after AnchorBank won a foreclosure lawsuit against their owner. Now, a search is on by the court-appointed property manager to find a new operator. “This is truly a unique venue that people in the community really felt was their won, and did notice when they closed, and are looking for them to reopen,” John Matheson with real-estate firm Siegel-Gallagher said.
The two theaters are in close proximity. The Times is located on 59th and Vliet, and the Rosebud on 68th and North Avenue.
While there aren’t any major construction overhauls needed right now, both theaters need some fixing up before they can open for business. If all goes as planned, the seats at the Rosebud and the Times could be filled by May.
Three different theater operators are in the running to breathe new life into the old-fashioned movie houses. “It’s important the operator, number one, maintains the facility to a clean and well-run operation, provide good service, keep the uniqueness there and have the ability to bring appropriate movies to serve the public well,” Matheson said.
The new operator could be chosen as soon as next week.
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