The bail was set during a court hearing in Chicago on Thursday.
The 'Empire' actor was declared a suspect in the alleged attack on Wednesday afternoon.
The Chicago PD tweeted the actor is now a suspect in a criminal investigation for filing a false police report.
Baby boy Franklin has arrived!
Smollett's lawyers are in Chicago and say they will 'keep an active dialogue going with Chicago police on his behalf.'
ET has all the latest on the 'Empire' star.
Chicago Police confirmed to ET on Friday that the two men who have been questioned by police since Wednesday have now been arrested.
The 'Empire' star opened up about the alleged assault in Chicago during an exclusive 'Good Morning America' sit-down.
The 'Empire' actor sits down for an exclusive interview with Robin Roberts, airing Thursday, Feb. 14, on 'Good Morning America.'
The investigation into last month's attack on the 'Empire' star continues.
ET spoke with Strong about Smollett at the Fox winter Television Critics Association party on Wednesday night.
ET learned on Wednesday that Smollett was back to work on the Fox series.
The actor was the target of a homophobic and racist attack in Chicago last week.
ET spoke with Henson at a special screening of 'What Men Want,' in theaters Feb. 8.
