Elliott pleaded guilty to one count of arson and one count of insurance fraud.
In exchange for his plea, Elliott received 2 years probation, a fine of $1,179, and was ordered to pay restitution of $107,000.
At the time of the fire, Elliott publicly stated that he believed the fire to be a hate crime.
Elliott occasionally employed convicted Uptown arsonist Daniel Grunauer at his now-shuttered Boystown club, Bonsai Bar & Lounge, as well as at the Velvet Rope in Oak Park.
As CWB reported exclusively last year, Grunauer just happened to be named as a co-starring attraction in the next-to-last Tweet sent by Velvet Rope before it was set on fire.
Grunauer was sentenced to a 3-year prison term in January after pleading guilty to arson and burglary in connection with two Uptown incidents. He was never charged in the Oak Park matter.
Image: An OakPark.com photo of Frank Elliott outside of his Velvet Rope bar shortly after it burned in 2012.