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In a large, heavy pot over medium heat, render bacon until crisp. Pour off all but 2 tablespoons fat from pan. Add onion and cook, stirring occasionally, until it is softened, about 5 minutes. Sprinkle flour over onion and stir to combine, cook 1 minute. Stir in chicken broth and potatoes; bring to a simmer over medium-high heat. Reduce heat to medium low and simmer until potatoes are halfway cooked. Add corn and cook until both corn and potatoes are tender.
Puree 1 1/2 cups of corn mixture in a blender until smooth; stir back into pot. Add zucchini and increase heat to bring to a simmer. Cook until zucchini is just tender, about 4 minutes. Stir in cream and season with salt and pepper; simmer 2 minutes more. Add several dashes of hot sauce, if using. Serve bowls of chowder topped with some of the sliced basil.