I recently purchased a home that has a approximately 2'x2' chimney in the basement. Above that in the living room is a "bump-out" from the wall approximately 5' wide and 2' deep. The walls are covered in wood paneling. Short of ripping off the wood paneling completely and possibly starting a big project, is there any way to tell what, exactly, lies behind the wall?

Sure sounds like a fireplace! But I'm a little apprehensive, because the 5-foot dimension does not extend all the way to the basement, which it should if there's a fireplace in there. It may also be a chimney plus boxed-in piping for plumbing or heat for the floor above.

Absent a friend with x-ray vision, about the only way to be sure is to remove some paneling.