A few more weekends of work and here's where we are.
 
Got the HVAC enclosed, hung a louvered door to ensure proper airflow into the unit.  Sealed the cinderblock and framed the windows.  Moved the refrigerator into its spot, finished the drywall on the closet and put a plywood floor down in the upper storage area.  Ran electrical for the frig, a light, and some extra outlets along that wall.
Here's a look into the closet, still have to cut and mount the shelves.
 
Also, hung a new six panel security door leading into the house, so that everything matches (at the wife's request.)  That's Three Doors Down! 
 
