Zhujiajiao Water Town is about 50 km away from the Bund, Shanghai. If your time is limited, Zhujiajiao would be the best and 2nd nearest option to get a feel of such ancient towns around Shanghai. Similar to Venice in Italy, there are many well preserved bridges and boat ride is available.
Among Zhujiajiao's nine old streets, North Street is the best preserved ancient street with some of the buildings dating back to the Qing Dynasty era (1644-1912). Nowadays, plenty of restaurants, bars and coffee shops line both sides of the narrow street. You can take a stroll along the street to see the ancient buildings, sample some local snacks or relax in a artsy bar.