Indian American Patel was cruising along for the first 10 holes with nine pars and a bogey. From there, it was a roller coaster with double bogeys at No. 11 and 14, followed by birdies at No. 15 and 17, and then a bogey to close.
Despite a 2-over 74, Patel remains right there with 18 holes remaining, just one shot back in a tie for second at 8-under with Cody Gribble (68) and Sebastian Vazquez (70).
It would certainly be quite a story if the local boy, who lives just 30 minutes down the road in Vincennes, Indiana, could pull it off here at the United Leasing & Finance Championship in front of the home crowd following him.
The Web.Com Tour rookie made a solid push towards that, finishing the back nine with a 4-under 32 to complete a 4-under 68 that vaulted him to the top of the leaderboard by a shot at 9-under-par.
Sebastian Vazquez followed up a course-record 63 with a 2-under 70 to get within one shot of the lead. Vazquez held the outright lead briefly after a birdie at the 14th but closed with bogeys on two of his last four holes to fall one shot back of Schenk.
Thirteen players enter the final round within three shots of Schenk's lead.