Those jackets that everyone was dying for last year... the clear rain proof ones... were $50 at sportchek at Yorkdale last week. I would suggest you call ahead just to make sure they have your size.
Also, I found that Sweet Petes is the best bike store in Toronto... just saying. They love customers and like to help out as much as they possibly can. No, I don't work for them.
They sell them at Bay Cycle in Pickering for about $25 and they give riders a 15% discount. They're the non-breathable ones. The breathable ones go for about $100.