Ownership Submission
FORM 5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Form 3 Holdings Reported
Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person *
Tenwick David A
 2. Issuer Name and Ticker or Trading Symbol
ADCARE HEALTH SYSTEMS INC [ADK] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chairman
(Last)
(First)
(Middle)

8503 MISTY WOODS CIRCLE, 		 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2006
(Street)


POWELL, OH 43065		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Reporting
(check applicable line)

___ Form Filed by One Reporting Person
_X_ Form Filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 2270 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Warrants $ 5.4           11/10/2006 11/10/2011 Common Stock
3,000
  3,000 (1)
D
 
Warrants $ 5.4           11/10/2006 11/10/2011 Common Stock
2,000
  2,000 (1)
D
 
Warrants $ 5.4           11/10/2006 11/10/2011 Common Stock
2,000
  2,000 (1)
D
 
Warrants $ 5.4           11/10/2006 11/10/2011 Common Stock
6,000
  6,000 (1)
D
 
Warrants $ 5.4           11/10/2006 11/10/2011 Common Stock
1,000
  1,000 (1)
D
 
Warrants $ 2.5           01/31/2005 01/31/2010 Common Stock
40,000
  40,000
D
 

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Tenwick David A
8503 MISTY WOODS CIRCLE
POWELL, OH 43065		   X     Chairman  
HACKETT PETER J
505 WEST HOME ROAD
SPRINGFIELD, OH 45504		   X      
LEVINE JEFFREY L
2615 DUNHOLLOW DRIVE
SPRINGFIELD, OH 45503		   X      
Peterson Clarence A
150 E WILSON BRIDGE ROAD
SUITE 230
WORTHINGTON, OH 43085		   X      
Radcliffe Philip S
106 BURNHAM
WILLIAMSBURG, VA 23188		   X      
Williams J Michael
1844 N FOUNTAIN AVE
SPRINGFIELD, OH 45503		   X     Exec VP - COO  

Signatures

Carol Groeber 04/07/2007
**Signature of Reporting Person Date
Carol Groeber 04/07/2007
**Signature of Reporting Person Date
Carol Groeber 04/07/2007
**Signature of Reporting Person Date
Carol Groeber 04/07/2007
**Signature of Reporting Person Date
Carol Groeber 04/07/2007
**Signature of Reporting Person Date
Carol Groeber 04/07/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The increase from Form 3 is due to a mandatory unit separation into 2 shares of common stock and 2 warrants.

Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.