luckymatt42 :
You may know this, but you'll have to get a new motherboard, as well as some new memory (you're currently DDR3, 8700 would be DDR4). So if you can afford all that, go for it.
BUT as far as just raw gaming performance, you'll probably not likely see much from the CPU upgrade alone...there will be a bump (think the 5% to MAYBE 20% in some games), but most games are far more GPU bound than CPU bound.
Your under playing it a bit there!!
http://hwbench.com/cpus/intel-core-i7-8700-vs-intel-core-i5-4570
http://cpu.userbenchmark.com/Compare/Intel-Core-i7-8700-vs-Intel-Core-i5-4570/3940vs2770
The 5% increase is typically between generation. That would be an average of 20% on IPC alone as the 4570 is 4th gen and the 8700 8th gen. Never mind the mutlicore/threaded capabilities. Games more an more often are using those cores and threads. It's a massive upgrade.
To the OP, if you already have a decent GPU and are sure you getting a 1080ti or new gen, then getting the 8700 to complement it would be great. Also consider an 8600k if budget is a constraint. The 8600k is a monster chip too. Although it doesn't have HT like the 8700, but if it's just gaming your doing, it's the second best gamer out there.
The difference between two processors are huge.