While it is not really a building, I'd be very happy to see the removal of the vacant Toronto Star newstand at Yonge & Front. Does the Star own that hideous hut? If so, it's existence doesn't really match up with the Star's endless rants about Toronto's lack of beauty.
If it were possible, it would be ideal to open up some the of the Bay's street level frontage and create some non-Bay related retail space. Converting the existing window displays and pushing the space back more to create more retail opportunities would greatly solve the problem of that beast. Add some flashy, trashy signage up above (similar to Y+D Square) and presto, that north/east corner would be much more exciting and useful.
maybe this thread should be renamed "buildings we cherish and love which our vital to our way of life as a western christan society who has gays, unlike iran". this way the chances of these buildings actually being obliterated....