Mudroom Built Ins from Ikea Bookcases for $300
Basically, I assembled 2 Billy Bookcases, 1 Billy Wall Shelf, 1 Smadal TV Console from IKEA and attached them to the wall up against a section of beadboard forming an inverted "U" shape. I also attached the bookshelves to the wall shelf for added stability. I left the TV stand free and just pushed it against the wall (as a bench and shoe storage) so that I could remove it to sweep under it. I did reinforce the TV stand with some metal L brackets to support the weight of my kids sitting (and standing and jumping) on it.
Where the shelves met the wall, I added quarter round trim and added corbels under the wall shelf for architectural interest. I also added crown molding along the tops of the shelves.