If your soil is extremely sandy, it would be beneficial to amend it by adding organic matter such as compost. The compost will help retain water and prevent such rapid drying.
Creeping red fescue is one of the better drought-tolerant turf types for your area, and would be a good choice, perhaps in a mix with some of the more drought-tolerant bluegrass varieties.
Fertilizer selection depends on the results of a soil test. Check with your local cooperative extension office about having a soil test done.