TORONTO (CNN) -- Business tycoon Sir Henry Mill Pellatt's dream home sits on a hill overlooking Toronto, its towers and turrets rising majestically above the trees.

Towers and turrets? Out of a lifelong fascination with the castles of Europe, Sir Henry built one of his own -- starting in 1911 -- employing 300 men and spending $3.5 million. Sir Henry and his wife took up residence in 1913, and even then construction dragged on for several more years. The couple lived in their luxurious abode only until 1924, when Sir Henry's fortunes turned and he was forced to give it up to pay his taxes.

Today, Casa Loma, the "house on the hill," has been restored and is operated by the Kiwanis Club -- a testament to the gilded opulence of the early 20th century and the dreams of a man who aspired to, and attained, greatness. If you find yourself in Toronto with a few hours to spare, it makes for a unique escape.

Sir Henry, born in Ontario to British parents, made his fortune with a series of visionary business ventures. He spared no expense building and furnishing Casa Loma. Two towers mark the exterior -- the 130-foot (40-meter) Scottish tower on the east side and the open Norman tower on the west with its sweeping view of Toronto. The Scottish Tower offers the best views of the estate's grounds and award-winning gardens.

Inside, Sir Henry's Great Hall brings to mind the great halls of old, with its 60-foot (18-meter) high ceilings and hammer-beamed roof. Gargoyles overlook the room, as does a balcony from Sir Henry's private suite.

Just off the Great Hall, the wood grain in the library's floor looks as if light and dark boards have been laid alternately -- but it's only an illusion. Above the floor, the Pellatt family crest on the ceiling bears the inscription "Devant Si Je Puis," or "Foremost if I can." Nearby, the Oak Room was Sir Henry's drawing room, featuring intricately carved oak panels on the walls.

While Sir Henry's gardens were a delight outside, Toronto's winters kept them under snow for part of the year. Inside, he and Lady Pellatt enjoyed the Conservatory, with its domed stained glass ceiling and steam pipes to keep the flower beds warm.

Upstairs, the Pellatts each had their own suites, the custom of the time. Lady Pellatt's was the larger of the two -- painted her favorite color, Wedgwood blue. Sir Henry's quarters begin on the first floor with his study, where secret passages on either side of the fireplace lead downstairs to his wine cellar or upstairs to his living quarters.

Sir Henry's love of things military is evident in the second-floor hallway, where suits of armor guard the landings. Other rooms on display include the Windsor Room, which Sir Henry hoped would one day host the Royal Family, and the Round Room with its custom doors and windows, made to fit the walls' curvature.

Sir Henry's horses lived in luxury as well. Across the street and accessed by an 800-foot (244-meter) underground tunnel (Toronto's annexation of Casa Loma's neighborhood spelled the end to Pellatt's attempts to have the street re-routed), are the stables, built of mahogany with Spanish tile floors.

After the Pellatts moved out of Casa Loma in 1924 -- when Sir Henry turned the estate over to the city of Toronto in payment of an enormous tax bill -- the house languished until 1937, when the Kiwanis Club took over its operation and opened it to the public. It's even been the setting for a few movies, most notably Tom Cruise's "Cocktail" and Goosebumps' "Night at Terror Tower."