Preheat the oven to 325°F. Grease and flour a standard Bundt pan, and set aside.
In the bowl of a stand mixer, or in a large mixing bowl, cream together room temperature butter and granulated sugar until they are well mixed. Add eggs, lemon juice, and extract, then mix again, beating until light and fluffy.
In a separate smaller bowl, measure out 2 cups of cake flour. Either sift or whisk well to aerate the flour, then add it to the wet mixture, combining on low speed until the flour is just incorporated.
Pour the batter into the Bundt pan and bake for 1 hour and 15 minutes.
Allow to cool for a few minutes, then invert the Bundt pan onto a cooling rack. Tap the pan a few times until the cake releases onto the cooling rack. Allow it to cool on the rack for 20-30 minutes.
While the cake cools, make the glaze.
In a small bowl, combine powdered sugar, extract, and milk. Mix vigorously with a whisk until powdered sugar is completely dissolved. When the cake is cool to the touch, spoon glaze over the cake.