Weird Flooring Question

[Dan L.]

Any suggestions for this flooring? We have this approximately 4 in wide “trim” along the perimeter of the room. It's basically a 4x4 that goes all around, and they must have poured the concrete into it, but left the wood. And the wall is built on top of that wood. It's pretty crazy. If I did carpeting, there would be a bump there. Originally I wanted to do painted concrete, but that would leave the perimeter sticking up. And it's not level all around the room, in some places it's a quarter of an inch higher than the concrete, other places it's almost a full inch. The goal of this room is to become a small event room. I'm pretty flexible with what flooring goes down - Carpet, sticky tile, painted concrete, etc. Just not sure what to do with this lip all around the room.