Make a hole deeper than the drill bit is long
A 1.5" hole (38mm) in concrete is beyond any conventional drill.  You might get away drilling empty block, but not a foundation.

I'd suggest renting a big rotary hammer drill driver for this job.  Most rental places are happy to rent you a suitable bit for the task as well, on the basis if you didn't have the tool you're unlikely to have the proper sized cutter.

It might also be a coring hole saw instead of a masonry twist drill, potentially with a water feed for keeping the dust down.    The bigger ones come with a base that you bolt to the wall or floor to maintain tracking and not risk bending your tool's shaft.

Either way this is going to be a heavy tool to hold that is enormously loud, and will have high vibrations to the user and the structure into which you're drilling.



More info at https://www.instructables.com/community/How-to-drill-a-4-inch-hole-in-concrete/



Also, consider that you risk running into reinforcing rod (rebar) in a foundation, so your cutter will have to deal with steel as well as concrete.  

Once the hole is done, you will absolutely have to clear it of dust and then seal the fresh surface - cut steel will need rust protection and the concrete will need silicon of some sort.

Consider also what other concrete holes you might want to prepare while you have the drill in your hands.

There's no shame at all in getting a contractor to drill your hole too - they will have the gear and probably cost not a lot more than a rental.