Question: To talk about something or someone, we usually give an apostrophe, like John's pen. If the word ends with s, we say Adams' pen . But what if we are talking of something that ends with an apostrophe s like Jack's (what we sometimes say in short for Jack's home, or Jack's kitchen etc.). How do I use an apostrophe for words like these? (For eg. If I want to say "Jack's house is closed" but I want to write *Jack's* instead of *Jack's house* , How do I manage the apostrophe?)

Answer: 
If you're asking about omitting the second "house" from, for example, "My house is open, but Jack's house is closed" then I'd simply omit it: "My house is open, but Jack's is closed." 

If, on the other hand, you're asking about nested possessives, as in "My house's roof is brown but Jack's house's roof is gray", and you want to omit the second "house", then you have a problem. Logic dictates "Jack's's is gray" but I can't bring myself to imagine that this is acceptable. I'd advise rephrasing the whole thing to circumvent the problem.
The punctuation usage of the possessive apostrophe have evolved according to the whims of the print media.
In the USA : They only use an apostrophe if the word is **2 syllables** or more: Thomas’ report, Rogers’ network. 
For **1 syllable** words they add an apostrophe plus an “s” – Jones’s diary or Chris’s meeting.

In the UK : They add an apostrophe plus **“s”** to make all names possessive: Robert Francis’s book.