The Sandringham line railway stations of South Yarra, Prahran, Windsor and Balaclava are all within 300 metres of Chapel Street.

In the 1850s much of the area between Commercial Road and the Yarra River was formed of deep clay deposits which resulted in a number of brickmakers establishing businesses on both sides of Chapel Street.

Virtually from its beginning Chapel Street, between Toorak Road and Dandenong Road was a trading and shopping street with flour milling, butchers, bakers, drapers, boot makers, general stores, carpenters, bricklayers, farrier and blacksmiths, chemists and an undertaker.

At the start of the 20th century large multi-level emporiums (department stores) began to spring up in the Prahran section of the street.

In the 1980s, the Jam Factory and Como Centre at the South Yarra end were the biggest developments to effect the character of the street.