Studying the end times is important to do for a variety of reasons. First, it gives you an eager expectation and longing to see God’s will accomplished. Second, it provides the stimulation to live in a difficult life now as you wait for your hope to be fulfilled in the future. Third, it gives a sense of peace to the believer, knowing that Jesus is in fact in control of all of history, and He will return.
A significant subject in discussing the future is the role of Israel. What awaits them in the future?
As the title indicates, I believe the Bible clearly teaches a special kingdom for Israel in the future that coincides with the promises of the Old Testament. Acts 3:19-21 speaks to this issue clearly:
 Therefore repent and return, so that your sins may be wiped away, in order that times of refreshing may come from the presence of the Lord;  and that He may send Jesus, the Christ appointed for you,  whom heaven must receive until the period of restoration of all things about which God spoke by the mouth of His holy prophets from ancient time.
Acts 3:1-10 describes Peter and John healing a lame man, which caused all the Jews who were gathered together in the temple to surround them in amazement (v. 11).
Peter then proclaims that they [the Jews] had put to death their Messiah, but that God had raised Him from the dead (vv. 12-16). Peter acknowledges that the Jews had acted in ignorance, just as the prophets had foretold the Messiah must suffer (vv. 17-18).
It is in light of all of this information that Peter extends the opportunity for Israel to “repent and return” (v. 19). Peter then gives two motivations (two purpose clauses) which give the reasons why Israel should repent.
 so that your sins may be wiped away
[2a] in order that times of refreshing may come from the presence of the Lord
[2b] and that He may send Jesus, the Christ appointed for you
It is important to recognize that the second purpose (2a and 2b) are governed by one purpose conjunction, meaning they are both a part of the same purpose. Thus, Peter is saying that if Israel “repent and return,” then their sins will be wiped away and “times of refreshing” will come along with the coming of the Messiah.
Jesus is further described as the one “whom heaven must receive until the period of restoration of all things.” This Messianic descriptor is an allusion to Psalm 110:1 where David says the Messiah sits at God’s right hand until it is time for Him to conquer His enemies. When that time comes, the Messiah will come and bring about the “times of refreshing” and the “period of restoration.”
The “period of restoration” is a unique phrase, but is similar to Acts 1:6 where the Disciples ask, “Lord, is it at this time You are restoring the kingdom to Israel?” The verb and noun forms “restoring/restoration” in Acts 1:6/3:19 are cognates (the same word as verb and noun) indicating that the subject of restoration in both places is the kingdom for Israel.
Notice the implication of Peter’s message. He is entreating the people of Israel to repent and turn to their Messiah so that the Messiah will return and bring Israel’s kingdom with Him! This is an important realization because this demonstrates that the New Testament did not change the Old Testament expectation of a real, tangible Israelite kingdom. Rather, Peter claims that his message is in line with what “God spoke by the mouth of His holy prophets from ancient time” (v. 21b).
There are a variety of Old Testament texts which are the basis for Peter’s call for Israel’s repentance. For example, Hosea 14:1–7 calls for Israel to return to their God (v. 1), which then will result in God healing and restoring His people (vv. 4–7). Similarly, Zechariah 1:3 petitions the people to turn to the Lord so that He would return to them. Further, there seems to be an underlying notion in the prophets that for the Lord to prosper His people Israel there must be repentance which will result in divine forgiveness (cf. Joel 2:12–13; Mal 3:7).
Speaking of the future, Zechariah 12-14 says that God’s Spirit will be poured out on Israel so that they will repent and mourn over their past sins (Zech 12:10). Subsequent to this renewal of Israel’s heart, the Messiah will come and rescue Jerusalem and set up His kingdom over the other nations (Zech 14).
How does this apply to us? First, we realize God is not done with Israel yet. They are in a time of hardening during the time of the Gentiles (cf. Luke 21:24). We look forward to a national repentance that will result in Jesus coming back. Second, we are not now in the Messianic kingdom. We await a real rule on this earth by our real king, Jesus. Amen, come quickly!