Btw the turbo speed of the i7 4770K is 3.9GHz
Turbo works by increasing the clock speed of the CPU for all the cores, think of it as automatically overclocking itself.
And for the turbo the standard cooler that came with the CPU would work fine for turbo, but for overclocking you will need something better.
And yes it will work on a z87 and h87 chipset.
Hope this helps!