Walk up the west side of the trail high above the river past rock cliffs. If the water is low, walk through the river and continue on the east side for river valley views and Lake Superior overlooks ending back at Highway 61. You can up and back either side of the river, too. There's a nice cobblestone beach at the river mouth, too.
Split Rock River Hiking Bridge has been permanently removed, making this a possible loop when water levels are low [you will need to cross the river]. As two hikes, one up each side of the river, the west side trail runs high above the river past rock cliffs, while the east side trail gives you river valley views and Lake Superior overlooks.