Is there something less heavy and less bulky than lime that can be used to
neutralize an acidic lawn?

Some sort of chemical I can put in a hose-end spray bottle would be ideal.

Ain't happenin'. Lime can adjust the pH and another way to bring it to a
neutral pH is through the use of compost. These methods take time -- as in
a season or two. If you want an immediate change, pull out some shovels and
buy some friends -- you'll have to replace the soil.

Before you do anything, be certain to test the soil's pH in several places
around the property -- use too much and you'll go to far in the wrong
direction, not enough and you've just wasted your time and $$$. This is
another reason compost is such a good way to go -- it does naturally.

BTW, you may also want to determine WHY your soil's pH is so acidic (such as
conifers nearby, etc.).

James