Okay, only four numbers preceeded by a letter. I'm really not sure if Schwinn used a different SN coding with their pre and early post war CroMo lightweights like they did with some of the later models like the Superior, SS's and SST's. I for the month, (since the omission I & O came about later on), and 7 for 1947 with the 452nd frame built.
Note: This scheme is for all Chicago built non-Paramount models excluding 1962-1963 Superiors, 1964-1969 Super Sports and 1968 S/S Tourers (whose Serial Numbers are located on the left rear axle hanger and consist of a single letter code for the month [again, skip "I" and "O"], the last digit of the year and a 3-digit sequential build number -- e.g. 'K6018' is the 18th frame built in October of 1966).