SiggiPalli :
I just bought a 1080 Ti from newegg and I was wondering if my I5 7500 will bottleneck it or keep it from from performing at its best potential?
Nope, it's going to be fine. The i5-7500 is one of the many 1st-tier CPUs out there, & while we're starting to see more games that perform better with CPUs that have more cores/threads, they're still few in number...& even in those games, the performance of a Core i5 is such that you'd have difficulty really noticing the difference.
I do hope, however, that you're planning on 1440p/144Hz or 4K/60Hz gameplay, as those are the resolutions the GTX 1080Ti is designed for. If you're planning on 1440p/60Hz or 1080p/144Hz, a GTX 1070 would be more than enough; for lower resolutions, a nice GTX 1060 or RX 480/580 is more than sufficient.