440 Lake Front Toronto

This $10 million lakefront property in Toronto doesn't even have a house yet

While it's true that land value is a huge selling point when you purchase a home (location, location, location!), the home usually does have some value too... Or so I thought.

Interestingly enough, blogTO wrote about 440 Lake Front four years ago when there was an actual home on the property. 

After the Hamptons-esque beach home sold for $5.4 million, the current owners tried several times to rent it out.

440 Lake Front Toronto

The beach which the property backs onto. 

And then when that didn't work, they apparently went for the nuclear option and completely demolished the home.

Sure, the home was dated and definitely needed upgrades and air conditioning, but not so sure it needed to be razed to the ground. 

440 Lake Front Toronto

What the property currently looks like. 

Regardless, now the vacant land is listed for a whopping $9,800,000. So is it worth that? Well, maybe... The property itself is quiet special. 

440 Lake Front Toronto

A rendering of the potential new home. 

440 Lake Front is one of only 14 properties that have Toronto beachfront access, and it has panoramic views of the beach and Lake Ontario. 

440 Lake Front Toronto

Floor plans for the yet-to-be-built home. 

Additionally, there do seem to be several drawings of a potential dream beach house.

440 Lake Front Toronto

The home will offer over 10,500-square-feet of living space. 

The property also comes with the "build permit to custom build your exquisite dream legacy family estate," according to the listing. 

440 Lake Front Toronto

The new home will be big enough to have an entire tree inside. 

Although, not everyone loves the plans that got approved. In fact, in 2019 there was some contention over the home according to a CBC article. 

440 Lake Front Toronto

Renderings of the backyard. 

Also, unless that build permit includes the cost of construction, labour, materials, furnishings and everything else that goes into making a dream home come to life, there's no way this property is worth almost $10 million. 

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