Old Town is also home to one of the few places that survived the Great Chicago Fire of the 1871: Old Town's "German village," including the St. Michael Church that survived the fire because its walls were made of brick.
The Old Town area runs roughly north of North Avenue, west of Wells Street, south of Lincoln and Wisconsin Avenues, and (very roughly) east of Sedgwick and east of Mohawk.
Old Town's major intersection is North Avenue and Wells Street. Go either direction on Wells Street (which runs north and south) and you'll come across numerous restaurants, bars, and boutique shops. This intersection is also where the famous Second City improvisational comedy club is located at 1616 North Wells St.
If you're visiting in June, be sure to check out the annual Old Town Art Fair and the Wells Street Art Fair.