Based on sketches, paintings, and written accounts, Chimney Rock was taller when it was first seen by settlers, but has been reduced in height since then by erosion and lightning. In the 1990s, a lightning strike that caused rock to tumble off of the spire was recorded by a tourist's video camera.
Chimney Rock has been designated a National Historic Site and is today administrated as an "affiliated area" by the National Park Service in cooperation with the Nebraska State Historical Society. Chimney Rock and Independence Rock further west are probably the most famous features along the Oregon Trail.
On March 1, 2006, the Nebraska State Quarter was released. The quarter features a covered wagon headed west past Chimney Rock, memorializing Nebraska's role in westward migration.