We took an 8X6 walk-in closet that was off our master bathroom and turned it into a nursery. We didn't have an entire spare bedroom to use for a baby and we knew how little space was really needed for an infant, so this is what resulted! There is a surprising amount of room - enough for a crib, glider, clothes hamper and space for a large toy. This is my most favorite room in our house.
My dh cut a hole in the outside wall and we put in glass block for a window. The crib I won on ebay and love!!!

This is the view standing by the crib looking toward the opposite wall.

The shelves were built-in with the closet so we kept those instead of using a dresser. You can just see a pull for a fan hanging down...we found a teeny tiny fan that is perfect for a teeny tiny nursery.

A print bought back when my first was born; matching print of mother's hands reaching for baby's hands is on wall with chair.

I didn't want to put vinyl letters directly on the wall as I knew I would be painting it again when the next baby arrived, so I put the letters on foamboard instead; this way I can move the board/saying when I move baby into a regular bedroom with siblings. This one is above the window by the crib.