Although the number of sensors in chemical production plants is increasing thanks to the IoT revolution, it is still a crucial problem what to measure and how to place the sensors as such the resulted sensor network be robust and cost-effectively provide the required information. This problem is especially relevant inflexible multi-purpose, multi-product production plants when there are significant differences among the operating regions. The present work aims the development of a sensor placement methodology that utilizes the advantages of local linear models. Realizing the often conflicting nature of the key objectives of sensor placement, the problem is formulated as a multi-objective optimization task taking into consideration the cost, estimation accuracy, observability and fault detection performance of the designed networks and simultaneously seeking for the optimal solutions under multiple operating regimes. The effectiveness of the Non-dominated Sorting Genetic Algorithm-II (NSGA-II)-based solution of the defined problem is demonstrated through benchmark examples.