A COMMUTER FLC DSNDS BELOW THEIR CLRED ALT AND THE APCH CTLR CORRECTS THEM AND ISSUES A NEW CLRNC. LTT.

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LEVEL FLT AT 7000 FT MSL. PNF WAS OFF COM #1 TALKING TO COMPANY FOR THE IN-RANGE CALL. I WAS COVERING COM #2 WHEN ATC TOLD US TO DSND TO 2500 FT MSL. I ACKNOWLEDGED WITH A READBACK INCLUDING THE ALT (2500 FT) AND CALL SIGN. THE FO AND I BOTH POINTED TO THE ALERTER AND SAID 2500 FT ALOUD. THROUGH 5600 FT; MKE SAID MAINTAIN 6000 FT. I SAID 'THAT WAS FOR OUR CALL SIGN?' MKE SAID 'YES; I SHOW YOU OUT AT 7000 FT.' I SAID; 'YES; YOU ASSIGNED US 2500 FT.' MKE TOLD ME HE COULDN'T HAVE BECAUSE THAT'S BELOW HIS MVA. HE THEN SAID TO MAINTAIN 5000 FT. HE VERIFIED NEXT THAT WE WERE ON A 250 DEG HDG; WHICH I CONFIRMED. HE THOUGHT MAYBE THAT WAS THE CONFUSION; BUT I REMEMBER BOTH DISTINCTLY. OUR POS OF APPROX 12 NM NE WAS FOR A L DOWNWIND FOR RWY 7R. THERE WAS NOT ANY TFC ON OUR TCASII WITHIN 5 NM OR 2000 FT. NOTHING FURTHER WAS SAID; AND THE EVENT ENDED WITH A SHORT VISUAL APCH AND LNDG. THIS WAS OUR FIRST LEG OF THE DAY; WE BOTH FELT GREAT BECAUSE OF THE EXCEPTIONAL WX. THE FACT THAT I READ BACK A CLRNC WITH NOTHING FURTHER SAID; INDICATED I WAS PROPERLY FOLLOWING INSTRUCTIONS. MOST OF THE TIME THE PNF IS TALKING ON COM #1; BUT UNFORTUNATELY HE WAS OFF WHEN THIS OCCURRED. I'M; AT A LOSS FOR SUGGESTIONS AS EVERYTHING WAS ROUTINE; AND WITHOUT LISTENING TO THE TAPES I MAY BE MISSING A PIECE OF THE SIT.