Owners Everton Martin and Karla Stewart Martin weren't initially aware of the house's claim to fame as the fictional Cherry Street Inn and simply thought it would be ideal to fulfill their dream of owning a B&B, The Chicago Tribune reported Tuesday.
The pair are waiting for the go-ahead from the Woodstock City Council before they begin a $500,000 renovation to transform the Victorian home into a five-bedroom inn, the Tribune said.
If all goes well, the Martins hope to open the house as the Royal Victorian Manor this summer, the newspaper said.
In the movie, Bill Murray plays a self-absorbed weatherman sent on assignment to cover Groundhog Day in Punxsutawney, Pa. He finds himself reliving the day over and over again, each morning waking up in the quaint Cherry Street Inn.