Mike, now released from a psychiatric hospital, meets with Reggie, and discover his dreams ( the events of the original film) are real, and they both journey to find and stop the evil Tall Man from his grim work.

Batman is wrongly implicated in a series of murders of mob bosses actually done by a new vigilante assassin.

Mike and Reggie continue to hunt the mysterious Tall Man, discovering along the way that the invasion has already begun.

Mike travels through time and dimensions to find the Tall Man's origins.

The final installment of the long-running Phantasm series.