In the course of doing research in eschatology, I found this quote by the now deceased dispensationalist scholar, and Dallas Theological Seminary founder Lewis Sperry Chafer:
It may be concluded that the term "kingdom of heaven" as used in the early ministry of Jesus referred to the Messianic, Davidic, earthly kingdom seen in the Old Testament. As has been noted, the Jewish preachers needed no instruction in the details of that message. It was the hope of their nation, and it was addressed to that nation alone. So, also, an appeal was made with this message for the anticipated national repentance, which must precede the setting up of the kingdom in the earth, and the requirements set forth were legal rather than gracious. Israel's kingdom was faithfully offered to them by their King at His first appearing. (The Kingdom in History and Prophecy, p. 51)
Here's what I gathered from this quote.
The Lord Jesus Christ "faithfully" offered the Jews of His day a Messianic kingdom.
This Messianic kingdom would be similar to but grander than the Davidic kingdom.
This kingdom age would be totally legal. In other words, no salvation by grace.
According to Chafer's other writings on the subject, the Kingdom was rejected by the Jews, which prompted God to offer salvation through grace. The writings of Darby, Scofield, and Walford generally concur with Chafer's.
How does the dispensationalist view the Jewish rejection: As a matter of Israel exercising free will prompting God to change His original plan? Or as Christ's "faithful" offer to Israel and subsequent rejection part of God's original plan.
If needed, please correct my shortsightedness on any of the above conclusions.