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

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.