I have dined at both and much prefer Fahrenheit. At one time Lola was in Tremont in the space that Lolita occupies now. I think Rocco Whalen, Fahrenheit's chef, is fabulous. There is way more that I find appealing in the entree department as opposed to what is on offer at Lolita. Lolita is almost a more casual taverna spot, with the mezze and the salumi. It is nowhere near fine dining.
We visited Cleveland this July & had dinner at Farenheit, which was a disappointment. I had a very bland veal ravoli with 2 different glasses of overpriced, mediocre white wine in a noisy setting. We had a much better meal at Chinato on 4th St.
E 4th St, Cleveland, OH
Totally agree with RnR1 - If you're talking about Lola vs. Fahrenheit they're two very comparable experiences. You can't really go wrong with either one. It's really going to come down to seeing what looks good on both menus. If you're talking about Lolita then they aren't as similar as its going to depend on what exactly you're in the mood for.
Just to clarify since your title isn't clear, you're considering Lola, which is downtown, vs. Farenheit, which is in Tremont. I honestly think they'd be lined up about evenly and you should just decide based on what you want from looking at menus. You'll have a great dining experience at both places. For what it's worth, Lolita, also a Michael Symon-owned place, is also in Tremont so that's why I was making sure that's your comparison.