Milwaukee, Minnesota is a drama film that centers on Albert (Troy Garity), a champion ice fisherman. Although Albert is mentally challenged, he makes a living by ice fishing, claiming he can hear the fish talk to him. His mother, Edna (Debra Mink), does not approve of her son's activities, going as far as to threaten her son if he does not quit fishing. Albert ignores his mother, participating in an ice fishing event. He wins, and is rewarded with a large sum of money. Edna suddenly dies, leaving him vulnerable to others around him. Meanwhile, a street smart woman, Tuey Stites (Alison Folland), her hypochondriac brother, Stan Stites (Hank Harris), and traveling salesman, Jerry James (Randy Quaid), arrive in town. When the group learns of Albert's vulnerability and fortune, they begin to devise a plan to swindle him. What they do not realize is that Albert is smarter than he appears.