Any help appreciated

We have a 600 square foot (20X30) undeveloped area in our basement that I would like to have developed, there is a cement wall half way up on 3 walls and the top part are already drywalled on those. Essentially we would only need 1 wall done with drywall (8X30) and the ceiling, also need a floor over the concrete that exists there. Where the concrete is, would I need to frame this and make a ledge all around? Any idea on how much this would cost to do? - myself? -pay someone to do it?
Is it difficult work?
Thanks in advance for any thoughts or ideas.
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It is one of the easier DIY projects. Yes, frame the bottom portion where the concrete is and insulate it. You probably have about 4' exposed so make a 2 x 4 frame where the bottom of the top pieces of wood is even with the top of the concrete. Then, using pieces of 2 x 4, tie it in with the rest of the wall so you can insulate there also. The top is then finished off with a 1 x 12 pine board and some molding. Round the front of the board a bit for appearance.
As for cost, if you us 10' length of 2 x 4 you can get the two uprights and the piece to go across the top. Space every 16" on center. Use 1/2" drywall minimum. Some places need 5/8" for code. You need enough of the pine boards to go around the top surface, then you need finishing materials. Figure what you need and head off to the local lumber yard or home center with your list. Drywall is heavy so consider having it delivered. You need about 15 sheets.
If you want to pay, it is a couple of days work (carpenter and helper) at $50 and $30 an hour. This is a perfect learning experience as it is a fairly straight forward job. Read about how to tape the joints, screw drywall every 8", and properly and safely us a circular saw.
My lower level is done like that so I can send you a photo or two if needed. Chances are, if you neighbor's house is the same, they already did this and you can see close up.
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