Nursery find: Chair

Last week we made another purchase for the nursery! As stated earlier, I really wanted an armchair like glider as opposed to the wooden ones, but was worried it would be way out of our budget. I found this one on Craigslist, and it was at a consignment store in a rather rough part of town, and it needs to be recovered, but it was only $89! I snatched it right up, and now I'm trying to figure out how to DIY upholster this sucker.
Exciting part- once we got it home, I went right to work peeling of the "decorative" trim the previous owners had had glued on it, and discovered this is a Dutailier Upholstered Glider and they retail for around $800, even without the ottoman! Holler! So, even if we end up having to pay someone to reupholster it (which my stingy little self does not want to do) it would be worth it as it's a quality piece of furniture that will actually last awhile!