I hijacked these plans:
http://www.motherearthnews.com/Hands...e-Shelves.aspx
And I took the suggestion to make the shelves 32" wide. I am going to
make them 7 ft high. 8 ft high would make them pretty hard to move
around.

I can't even get my nephew to take out the trash. My plan is to get
him to do this to use in the basement. Wish me luck.

http://imgur.com/m2irs

2 x 84-inch tall shelves. (7 ft) Shelves 48"x32"
----------------------------------------------------

Total material
-----------------------
2 4'x8' plywood
20 2-by-4s
110 3-inch deck screws
-----------------------

(2x1) 1/2-inch-thick 4'x8' plywood.
Cut the 4'x8' plywood into three equal pieces that are 32 inches.

(2x4) 2-by-4s 84" (Upright legs)
8 total

(2x6) 2-by-4s 48" (Front and Rear Frames)
6 total

(2x6) 2-by-4s 28" (Side Frames)
4 total

(2x1) 8-foot 2-by-4 Full length pieces for diagonal bracing
2 total




Shelf at 84" to top
Shelf at 39" to top
Shelf at 06" to top