The body of Nadine Beech was located around 4 p.m. on Garden Lane near Morris Avenue in the Bryn Mawr section of the township on Tuesday afternoon.
Police say her family has been notified.
Beech left the Waverly Heights senior living facility in the Gladwyne section of Lower Merion Township to take a walk around 10:30 a.m. Monday.
The last reported sighting of her alive happened just an hour later.
Officials say her movement was not restricted and she was allowed to leave the property.
"She was free to come and go. She was assessed on admission, and with info provided by the family, there was no risk of this type of behavior," said Tom Garvin, the president of Waverly Heights, during a news conference that was held before Beech was found.
In a written statement issued after Beech's body was found, Gavin said:
"We are deeply saddened by Mrs. Beech's passing and extend our heartfelt sympathies to her family. Waverly Heights has never experienced a loss like this."
Police say the extreme heat, and the fact Beech was new to the area and could become confused, were major concerns.