That sounds about like the right price-range on custom ADA-style stand. I don't have a table-saw or router, or experience working with formica, or the space really to build an entire stand. But I do have a circular saw and power drill, so I should be able to manage modifying the Ikea piece. I think I am going to try that first.
If that doesn't work out, I may PM you regarding a custom build. Thanks!