On a 1987 Chevy Celebrity with the 2.8L V6 engine, the crankshaft position sensor (CKP sensor) is typically located on the
passenger side of the engine block, near the
bottom of the engine, close to the
transmission bellhousing. It's often mounted in a fairly recessed area, so you might need a flashlight and possibly some maneuvering to see it clearly.
However, the exact location can vary slightly depending on specific engine variations. It's best to consult a repair manual specific to your year and model Celebrity (1987, 2.8L V6) for the most accurate location diagram. A visual inspection with the aid of a repair manual diagram is highly recommended.