Palace Pier is one of Toronto's oldest condos, dating back to 1978 well before these buildings became commonplace in the city. At the time, it stuck out like a monolithic beacon hovering atop Humber Bay and a strip of still picturesque motels along Lake Shore Boulevard.

Designed as luxury residence to take advantage of proximity to the lake and skyline views, it proved a harbinger for things to come in the area.

Palace Pier was joined by its sister building Palace Place in 1991, both which now stand as a sort of gateway to the Humber Bay Shores condo neighbourhood. This renovated unit offers a good example of what drew people to the area in the first place. While just a tad dated decor-wise, it's all about the view.

When you live in one of the top floors of these buildings, it seems as though you're in the midst of Lake Ontario at all times. It looks quite calming, and the unit has been designed with enough windows to take advantage of this rare feature.

The Palace Pier complex has excellent amenities, including a pool and fitness facility with squash and tennis courts. Factor in the age of the building, and you have a recipe for some very steep condo fees. In this case, you'll be shelling out almost $3,000 a month to live here.

SPECS

• Address: 2045 Lake Shore Boulevard W. #4301
• Price: $1,500,000
• Bedrooms: 3
• Bathrooms: 3
• Parking: 2
• Walk Score: 61
• Transit Score: 75
• Maintenance Fees: $2,898.56
• Listing agent: Andrea Morrison
• Listing ID: W3636353

NOTEWORTHY FEATURES

• High end appliances
• Steam shower
• Two underground parking spots
• Panoramic lake views

GOOD FOR

Someone who loves the idea of being surrounded by the lake. While Humber Bay is a short drive to downtown, the idea here is that the area is an escape from the concrete of the core in favour of natural beauty. Three bedrooms makes this unit family-friendly as well.

MOVE ON IF

You're a buyer who can't stand the idea of such expensive condo fees. If you're not going to use the amenities regularly, it'll hurt even more to shell out so much each month, especially when some of that money could go towards paying off your mortgage quicker in a building with lower fees.

ADDITIONAL PHOTOS

Thank you to Bosely Real Estate Ltd, Brokerage for sponsoring our condo of the week. All content and editorial written and selected by blogTO.