I am sorry you are having this problem with the system but let me help you out.
Based on your description, the system you have is a Z87 chipset meaning 8 series. The processor Ivy Bridge (3rd generation) is not compatible with the newer systems.
The design of the 3rd generation processors is for 1155 socket type and the 8 series motherboards come with socket type 1150 so I would say that the problem here is related to compatibility issues and that is way the computer is not booting up.
I recommend you contacting the Computer Manufacture so they can provide a list of compatible processors for your motherboard.
Hi Kevin and thanks for responding,
Sometimes I try to make things interesting by telling a story, but I confused the issues - one is a future build and the other is my existing system that I'm having a problem with now.
The system I'm having an issue with now is my existing ASUS P8Z77 WS, which uses a 1155 CPU. This system uses the correct 1155 socket Intel Core i7-3770K. As you are aware that CPU supports Intel's HD 4000 graphics port. This system works great when I'm using dedicated GPU, the XFX Radeon HD 7870.
My problem is when I remove the HD 7870 and plugged my monitor into the Intel's HD 4000 graphics port on the back of the MB. The system will not boot and beeps telling me i needed to install a graphics card.