My transfer case chain was slipping. I tore it all apart, didn't see anything else, replaced the chain and now have all gears except 4hi. The light comes on, but it acts like it is in neutral. Any thoughts?

is it mechanical or vacum triggered?

Any spare parts when you were finished?Just kidding.Did you use a manual when you did this or did you just jump in and start tearing it apart?Off the top of my head,I would say its possible that you got something wrong with the linkage,either inside or outside the t-case,check the adjustment of that first.or you got something flipped around in gear trainlike the shift forks.I hope you have a manual if thats the case because it could be difficult to try and figure out what goes where without pictures.

sounds like the linkage is not adjusted correctly...is it 4x4 full time or part time that acts like neutral?

Mechanical, used a manual, and it is the 4hi full time that is not engaging.