ANGOLA, IN--(Marketwire - 06/30/11) - The property known as Bledsoe's Beach Resort -- once one of northeast Indiana's best-known attractions -- could soon get a new lease on life. The Bledsoe family that has owned it for more than 90 years is preparing for an August 11 auction of the property, which includes frontage on Lake James and Jimmerson Lake."By all accounts, this was quite a place in its prime, with cottages, a hotel, a dance hall and a loyal following throughout the area. And of course, it has a lot of potential depending on the plans and resources of the new owners," said R.D. Schrader, president of Schrader Real Estate & Auction Company, which is marketing the property and will manage the auction.In 1967, a newspaper story described the Steuben County property as "one of Indiana's most outstanding resort areas." Today, the property includes a building currently used as a bait store, a private boat launch, commercial lots, a waterfront home, three waterfront home sites, an RV park and a nine-hole Par 3 golf course.The property will sell in 29 tracts, with some selling absolute, meaning there will be no minimum or reserve bid, according to Schrader. The auction will begin at 6 p.m. Thursday, Aug. 11, at the Potawatomi Inn in Pokagon State Park."The members of the Bledsoe family feel that it's time to put this property into the hands of someone who can take it to its full potential. That could be a single owner, or we could have a number of owners who purchase various tracts," said Schrader.The property has more than 3,500 feet of water frontage in all, with more than 2,300 feet on the 29-acre RV park on Jimmerson Lake. "It's hard to overstate the development potential here. But we'll just have to wait and see who emerges to buy it," said Schrader.Individuals interested in additional information about the auction may visit www.schraderauction.com or call 800-451-2709.Schrader Real Estate and Auction Company, based in Columbia City, Ind., is a leading auctioneer of real estate throughout the United States. More auction information.