The Auld Well is a well southeast of Strathbaile that only Strathbaile's children know about. It is the location of a set of Talaria placed there by Psaro's Pawn to entice children to wear them. While searching for the missing children, Ragnar McRyan met up with Healie at the bottom of the playground.
The monsters present within the well remain the same as Chapter 1 in the original NES Version, while remakes have the replaced by various other monsters.