Originally the chapel of the San Francisco de Cervera hacienda, the church was built in 1726 by Father San José de Sopeña y Cervera. From 1746 to 1794, it was home to the Holy School of Christ – an enigmatic religious order initiated by Father Luis Felipe Neri de Alfaro.
Its façade has a staircase leading to two side entrances and a main doorway of sandstone, all in the baroque style, although somewhat restrained. Its towers were never finished. Its interior contains a shrine to the Virgin of the Rosary.
The square before the church was originally its graveyard, and under its flagstones lie many of those who died during the attack on the Alhóndiga in 1810.