According to contemporary newspaper reports, the cast and crew filmed scenes on location in Indianapolis for three weeks. The main cast did much of their own driving at Indianapolis Motor Speedway.
When Bill Whipple William Haines arrives at the airport, Ford Tri-Motor airplanes operated by Maddux Air Lines are prominently featured. Maddux Air Lines operated in Southern California during the late 1920s with hubs in San Diego (Lindbergh Field) and Los Angeles (Mines Field, later renamed Los Angeles International Airport). The airport scene possible was filmed at Mines Field in L.A., except LAX doesn't have hills around it; perhaps Metropolitan in Glendale was more likely.
As seen, the Pace Car in the 1929 Indy race was a 1929 Studebaker President Roadster. That very car today (2021) is valued at over $100,000.
Indianapolis 500 participant William Spence's fatal crash was caught during filming. It can be seen in the last reel.