In the customized Chevy Suburban "craze" era of the later 1980s, many of the conversion companies did build wood consoles for their conversion kits. The wood work was all pretty nice, but the varnish/coatings they used were "thin", so all of the wood they added looked poorly after a few years. Later ones would use multiple coats, letting them dry for weeks before a new coat was applied. Cycle repeat.
Not to say it can't be done, or look nice when done, BUT you'll typically expend much more in time and money than a swap meet console might cost, by a good bit. Of course, you'll want some really nice wood to refinish. Level of execution counts, big time!
Even IF you do a great job, the next owner might see it as "home-made" and seek to replace it with the correct item. Might as well head toward the ultimate "end" situation now and be done with it? Spend your money on the console and then a little bit more getting it spiffedup with new side carpets, satin black paint (in places it's supposed to be), and chrome polish/wax.
Just some thoughts,
CBODY67