Oh, there are many lakes with beautiful homes along the shore, but Lake of the Isles probably has the most! 
The paths around the lakes are very, very busy and not terribly enjoyable for anyone who wants to go more than 10 mph. But there is a thriving bike commuter population here that keeps growing - I believe we're second only to Portland in % of commuters (even considering our winters).
Google the Martin Sabo bridge, very cool bike/ped only infrastucture here that is part of the Midtown Greenway (which rocks!).
2007 Trek 5000
2009 Jamis Coda
1972 Schwinn Suburban
"I rejoice every time I see a woman ride by on a bike. It gives her a feeling of self-reliance and independence the moment she takes her seat; and away she goes, the picture of untrammelled womanhood."
Susan B. Anthony, 1896