CBS News correspondent Elaine Quijano traveled to Rhinebeck, N.Y., and uncovered some interesting details.
In the one-stoplight village of Rhinebeck, Quijano said, all signs indicate Chelsea Clinton will marry fiance Marc Mezvinsky on Saturday. Mayor Jim Reardon believes the Rhinebeck rumor is true.
Reardon told CBS News he thinks the town is "going to look like a circus."
A guessing game is now on, Quijano said, for who's been asked to come to the wedding of the year.
Jim Langan, executive editor of the Hudson Valley News, said, "The main parlor game at the moment is, is President Obama coming, is President Obama not coming?"
Other big names on a guest list as long as 400 may include movie mogul Steven Spielberg, former British prime minister Tony Blair, and Barbra Streisand. Those initial invites were vague on details, only that the nuptials will be held somewhere within a two and a half hour radius of Manhattan. The most likely venue -- the $12 million estate, Astor Courts.
And the cost? Quijano said it could be in the neighborhood of $2 million. Flowers alone could run a quarter million. The catering could reach $750,000. High profile wedding planner Claudia Hanlin told CBS News she knows several vendors hired for the event. She says the bill could go even higher.
Gift bags will reportedly include wine bearing the Clinton name -- no relation -- from a local vineyard.
Hanlin, partner and founder of The Wedding Library, said, "When you add up all the different pieces in a very high-profile wedding, costs add up very quickly."