Empty closet crib nook. I was having my 4th child, and we had NO other place to put baby so we did just this! (ours was not this cute) It was the perfect fit and no one ever noticed the closet was missing! (little kids don't really need a closet anyway!)
I need to do this in Emma's room! Toy storage on the bottom, clothing hung on the top. Get the toys off the floor and leave more room for playing in his room.