How do you store your LO's dress up clothes? A trunk? A hanging wardrobe? Something else?

I am considering putting all the "clothes" in a big toychest/trunk (we have a lot of items), and the accessories like purses, shoes, crowns, etc. in a drawer of a big IKEA wardrobe we'll be using for toy storage in the play room. I also have the option of putting a low hanging rod in this wardrobe, but I'm doubtful about how useful this would actually be.

Specifically, I'm wondering about dress up "wardrobes" - if you have a cute wardrobe for storing dress up items, has it been fun and helpful? Or is it honestly just a pain to have to hang up a bunch of princess dresses every day?

Thanks!