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Daniel McInerney Of Solomon Organization Acquires Fifteen 98 Naperville From Gregory A. Fowler For $136M

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SOLD
$136,000,000

Illinois

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MultiFamily
Sold 08/28/2025
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Property Image
SOLD

Daniel McInerney Of Solomon Organization Acquires Fifteen 98 Naperville From Gregory A. Fowler For $136M

1598 Fairway Drive

See Similar Deals
MultiFamily
Sold 08/28/2025
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

The Fifteen 98 Naperville complex, located at 1598 Fairway Drive in Naperville, is a multifamily property encompassing 34 acres. The asset features a total of 640 units, which were transacted for a price of $136,000,000, equating to a per-unit cost of $212,500. The property includes 39 buildings and has a vacancy rate of 6.6%, with average rents set at $1,879.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $136,000,000
  • Units: 640
  • Price Per Unit: $212,500
  • Buyer: Daniel McInerney - Solomon Organization
  • Seller: Gregory A. Fowler - FPA Multifamily
  • Market: Naperville
  • Financing: $91,000,000 Berkadia loan
  • Vacancy Rate: 6.6%
  • Average Rents: $1,879

The transaction was facilitated by Daniel McInerney of the Solomon Organization, who represented the buyer, and Gregory A. Fowler of FPA Multifamily, who represented the seller. This sale marks a significant event in suburban Chicago’s real estate market for the year 2025.

Players

Gregory A. Fowler
FPA Multifamily
Gregory A. Fowler
6 deals$490.5M volume
SELLER
FPA Multifamily
FPA Multifamily
SELLER

Details

SOLD
IMAGE: Gregory A. Fowler & Daniel McInerney DATE: 08/28/2025 ADDRESS: 1598 Fairway Drive MARKET: Naperville ASSET TYPE: Multifamily ~ ACRES: 34 BUYER: Daniel McInerney - Solomon Organization SELLER: Gregory A. Fowler - FPA Multifamily SALE PRICE: $136,000,000 UNITS: 640 ~ PPU: $212,500 NOTE: The Solomon Organization bought the 640-unit Fifteen 98 Naperville complex from FPA Multifamily for $136M, or $212,500 per unit, marking the year’s largest suburban Chicago apartment sale. The New Jersey firm financed the deal with a $91M Berkadia loan, while the 1984-built property spans 39 buildings with a 6.6% vacancy rate and average rents of $1,879.

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