Folder access denied, cannot rename or delete

Win 7 Premium 64, updated, logged in as Admin.
Currently:
C:\Users\Public Documents.........I have taken ownership
Public Documents\Properties shows: General- Public Documents
Sharing- Public
Network Path: \\ACER-PC\Users\Public
Security - Object name: C:\Users\Public

SYSTEM- blue higlighted (I am logged in as Mark(Acer-PC\Acer)
Permissions all checked exept last: "special permissions"

I do not understand why ...\Users\Public Documents exists when in Properties it is mostly Public.
Yes, I probably accidentally changed Public to Public Documents some time past.

I want (prioritized):
#1. Rename Public Documents to just Public.
#2. Delete Public Docs....I will then create a Public folder with sub-folders: Dos, Music, Picts, videos.
But menu does not offer renaming nor does delete work, say's access denied.

Help please.

I solved it by elevating my administration privileges. (Built-in Administrator Account - Enable or Disable)

Administrator log-in. Deleted the folder in question (Public Documents), now I just have Public with it's sub-folders as is the default win set-up.
Re-start
Double check the folder is gone (it is).
De-activate Elevated Administration privileges.
Case closed......