Combine water and sugar in a saucepan and bring to a boil over medium-high heat. Reduce heat to low and simmer for 5 minutes. Remove from heat and stir in light corn syrup and lemon juice.
Allow to cool to room temperature, about 30 minutes.
Divide cooled mixture amongst 3 plastic containers and freeze for 1 hour. Scrape ice crystals with a fork and return to freezer until ice is semi-frozen, 1 to 2 hours, scraping ice crystals every 30 minutes.
Scoop Italian ice into small serving cups or cones and serve.