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bushes is not really too difficult, except for the size factor! Sorry, I didn't realize you were in Toronto (duh). It is actually zone 6, and quite friendly, then, for lilacs. I assume your friend is nearby (then it will be used to the conditions).
For moving, the trick is to take as much of the existing root ball as you can, and dig a good big hole, big enough to take it with about an inch or two around the sides. Make sure the lilac has been well watered before you move it (it should be moist but not soaking wet). Dig out all around the existing plant and down under the rootball. You will want to cover the rootball with something so that, while you are actually moving it from your friend's place to yours, the soil will not fall off -- burlap is a good choice, just place it on the burlap and fold the burlap up over it and tie with garden twine; or a tarp. Then after you move it and set it into the hole (without the burlap), you can turn it around so that you will be looking at the best side of it. Then fill in the hole with earth or compost, tamp down with your feet, and water well. You should keep it well watered for the first couple of weeks, until it gets established. I would avoid moving it when it is in bud or blossom -- so, wait until later in the year.
I think toronto is zone 4 and it's a standard liliac bush.
of lilac? the common kind or a hybrid? and where are you, zone-wise? usually, most things, if you take enough of a root and soil ball with them, and water in well enough, when you plant them, should be OK. Operative word: "Should".