I have added the -console flag to the shortcut, but the game will not open the console with the tilde(~) key. I cannot access the console. Is there any thing I am doing wrong?

Try jiggling your quotation marks.

What does this even mean?

Take a hard look at the line you added the '-console' to. Look for quotation marks. Move them to either include or exclude the parameter you added.

SOLUTION! I found a second installed keyboard in my PC that is not present. I had to uninstall it. Console works now! Thanks for all the TS help.
Opened Device manager
Expanded Keyboards
Found Logitech Unifying device
Uninstall.

Open game, `~ key opens console.