Most communities have ordinances regarding acceptable noise levels for different times of the day/night. Chances are that what they are doing can also be considered disturbing the peace. Next time the noise starts up call the police & let them handle it, and keep calling every time the noise becomes a problem. Sooner or later the fraternity will get the idea that this kind of excessive noise late into the night is not okay, but probably not before they get fined several times and it starts eating into their budget.

Or, you can always soundproof your house