I saw this in a magazine and wanted to share. I would have loved this as a child, and I think it's a great idea.
Get some "blackboard spray", and spray a spot, either on the wall, or on a door. If you put it on the wall, you can add a border around it, say with wood, or stickers, or paint, or whatever. The kids can draw on this all they want and it may save the rest of the walls.