Need help with rear wheels; T&C Tri Wheeler

I recently picked up an older Schwinn Town and Country Tri Wheeler 24" tires all around. Overall it's in good shape, the problem I am looking at are the rear wheels. The hubs are bent all to crap and the rims are rusted through. The axle itself is 5/8 inch, also it has a whole for a cotter pin, so I was thinking of replacing them with Marathon Tires Pneumatic Tire on Spoked Ball Bearing Wheel — 24in. x 2.125in from Northern Tool's and use a shim to make it a snug fit along with drilling a hole for the cotter pin. To be honest though I am not sure this is the route to go. Any insight on this would be great.

Tire link: http://www.northerntool.com/shop/tools/product_200486376_200486376

Thanks racie. I didn't know if those would work or not, will have to take a look at some and maybe even find some on sale or a decent set on CL.