Defrost phyllo dough according to package instructions.
Preheat oven to 350 degrees.
In a mixing bowl combine chopped walnuts and cinnamon mix well and set aside. In a small skillet over medium heat, melt all the butter.
Layer 10 sheets of phyllo dough, brushing each sheet with melted butter.
Spread a layer of the walnut cinnamon mixture until phyllo dough is completely covered.
Repeat this process three times using only 5 sheets of phyllo dough, brushing each sheet with melted butter and spreading another layer of walnut cinnamon mixture in between.
The final layer of phyllo dough should be 12 to 15 sheets each sheet brushed with butter.
It’s important to cut the baklava first in 4 diagonal columns, followed by 7 rows to give you the traditional rectangular dessert pieces.
Place the pan in the oven and let bake for 45 minutes.
While the baklava is baking, begin preparing the baklava syrup. On medium heat, on the stovetop, in a saucepan combine water, sugar, honey, cinnamon and lemon peel. Allow to 10 minutes until syrup has reached a boiling point and molasses like thickness, but not caramelized. Let the syrup cool until it's reached room temperature.
Once the baklava has baked and phyllo dough has reached a golden flaky color, remove from oven and let cool for an hour. Pour the cooled syrup evenly over the baklava, let stand for an hour to soak up the syrup. For best results allow the syrup to soak overnight into the baklava.